South east London house prices skyrocketed in July, new data shows

Across the UK, the average UK house price leapt by 15.5 per cent in the year to July, marking the biggest increase in 19 years.

But the increase in annual inflation was mainly because of “a base effect” from the falls in prices seen this time last year, as a result of changes in the stamp duty holiday, the ONS said.

The best annual growth in the region was in Harrow, where property prices increased on average by 14 per cent, to £547,000.

At the other end of the scale, properties in City of London lost 11.5 per cent of their value, giving an average price of £808,000.

Below is the list of house prices in south east London.

Bexley

House prices increased by 1.2 per cent – more than the average for London – in Bexley in July, new figures show.

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The boost contributes to the longer-term trend, which has seen property prices in the area achieve 9.2 per cent annual growth.

The average Bexley house price in July was £399,410, Land Registry figures show –a 1.2 per cent increase on June.

Over the last year, the average sale price of property in Bexley rose by £34,000 – putting the area 10th among London’s 33 local authorities with price data for annual growth.

Owners of terraced houses saw the biggest improvement in property prices in Bexley in July – they increased 1.3 per cent, to £409,389 on average.

Over the last year, prices rose by 10.2 per cent

Among other types of property:

• Detached: up 0.8 per cent monthly; up 9.8 per cent annually; £684,408 average

• Semi-detached: up 1.3 per cent monthly; up 10.7 per cent annually; £513,981 average

• Flats: up 1 per cent monthly; up 5.1 per cent annually; £257,057 average

First-time buyers in Bexley spent an average of £354,000 on their property – £28,000 more than a year ago, and £44,000 more than in July 2017.

By comparison, former owner-occupiers paid £440,000 on average in July – 24.1 per cent more than first-time buyers.

Bromley

House prices increased by 1.1 per cent in Bromley in July, new figures show.

The boost contributes to the longer-term trend, which has seen property prices in the area achieve 8.5 per cent annual growth.

The average Bromley house price in July was £509,742, Land Registry figures show –a 1.1 per cent increase on June.

Over the last year, the average sale price of property in Bromley rose by £40,000 – putting the area 16th among London’s 33 local authorities with price data for annual growth.

Owners of terraced houses saw the biggest improvement in property prices in Bromley in July – they increased 1.4 per cent, to £469,477 on average.

Over the last year, prices rose by 9.9 per cent.

Among other types of property:

• Detached: up 1 per cent monthly; up 10.2% annually; £1,059,598 average

• Semi-detached: up 1.3 per cent monthly; up 10.5 per cent annually; £636,230 average

• Flats: up 0.9 per cent monthly; up 4.6 per cent annually; £314,249 average

First-time buyers in Bromley spent an average of £398,000 on their property – £28,000 more than a year ago, and £40,000 more than in July 2017.

By comparison, former owner-occupiers paid £592,000 on average in July – 48.8 per cent more than first-time buyers.

Dartford

House prices increased by 1.1 per cent in Dartford in July, new figures show.

The boost contributes to the longer-term trend, which has seen property prices in the area achieve 11.7 per cent annual growth.

The average Dartford house price in July was £362,035, Land Registry figures show –a 1.1 per cent increase on June.

Over the last year, the average sale price of property in Dartford rose by £38,000 – putting the area 37th among the South East’s 64 local authorities with price data for annual growth.

Owners of terraced houses saw the biggest improvement in property prices in Dartford in July – they increased 1.2 per cent, to £358,073 on average.

Over the last year, prices rose by 12.4 per cent.

Among other types of property:

• Detached: up 0.7 per cent monthly; up 13.2 per cent annually; £721,782 average

• Semi-detached: up 1.2 per cent monthly; up 13.5 per cent annually; £456,457 average

• Flats: up 0.9 per cent monthly; up 8 per cent annually; £235,901 average

First-time buyers in Dartford spent an average of £327,000 on their property – £33,000 more than a year ago, and £59,000 more than in July 2017.

By comparison, former owner-occupiers paid £397,000 on average in July – 21.3 per cent more than first-time buyers.

Greenwich

House prices increased by 1 per cent in Greenwich in July, new figures show.

The boost contributes to the longer-term trend, which has seen property prices in the area achieve 12.1 per cent annual growth.

The average Greenwich house price in July was £442,423, Land Registry figures show –a 1 per cent increase on June.

Over the last year, the average sale price of property in Greenwich rose by £48,000 – putting the area third among London’s 33 local authorities with price data for annual growth.

Owners of terraced houses saw the biggest improvement in property prices in Greenwich in July – they increased 1.1 per cent to £507,977 on average.

Over the last year, prices rose by 13.3 per cent.

Among other types of property:

• Detached: up 0.6 per cent monthly; up 14.6 per cent annually; £959,854 average

• Semi-detached: up 1 per cent monthly; up 14.5 per cent annually; £678,443 average

• Flats: up 1 per cent monthly; up 10.9 per cent annually; £367,696 average

First-time buyers in Greenwich spent an average of £395,000 on their property – £42,000 more than a year ago, and £30,000 more than in July 2017.

By comparison, former owner-occupiers paid £516,000 on average in July – 30.6 per cent more than first-time buyers.

Lewisham

House prices increased by 1.8 per cent – more than the average for London – in Lewisham in July, new figures show.

The boost contributes to the longer-term trend, which has seen property prices in the area achieve 8.9 per cent annual growth.

The average Lewisham house price in July was £462,050, Land Registry figures show –a 1.8 per cent increase on June.

Over the last year, the average sale price of property in Lewisham rose by £38,000 – putting the area 12th among London’s 33 local authorities with price data for annual growth.

Owners of semi-detached houses saw the biggest improvement in property prices in Lewisham in July – they increased 1.9 per cent, to £791,381 on average.

Over the last year, prices rose by 12.7 per cent.

Among other types of property:

• Detached: up 1.4 per cent monthly; up 12.5 per cent annually; £978,623 average

• Terraced: up 1.9 per cent monthly; up 11.8 per cent annually; £575,697 average

• Flats: up 1.7 per cent monthly; up 6.3 per cent annually; £367,883 average

First-time buyers in Lewisham spent an average of £399,000 on their property – £30,000 more than a year ago, and £33,000 more than in July 2017.

By comparison, former owner-occupiers paid £563,000 on average in July – 41.3 per cent more than first-time buyers.

How do property prices in south east London compare?

Average property price in July

• Bexley: £399,410

• Bromley: £509,742

• Dartford: £362,035

• Greenwich: £442,423

• Lewisham: £462,050

• London: £543,517

• UK: £292,118

Annual growth to July

• Bexley: +9.2 per cent

• Bromley: +8.5 per cent

• Dartford: +11.7 per cent

• Greenwich: +12.1 per cent

• Lewisham: +8.9 per cent

• London: +9.2 per cent

• UK: +15.5 per cent

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