London Asking Prices Still On The Rise (May 2014)

There is some data to indicate that prices in Prime Central London are tapering off. But what about the rest of London? According to latest data from Rightmove, these prices are still heading northwards. New seller's asking prices up by average of 3.6% in May.

Annual Change Since May 2008
The next chart shows you the annual change in average asking price since May 2008. Greater London has powered ahead relative to the rest of England and Wales. No wonder that commentators say the UK is 2-country market, London and the rest.

Regional Differences
Let us take a look at the various London regions and their asking prices. Greater London stands out for its high prices, followed by the South East. Maybe there are better opportunities in other regions. I had looked at Liverpool in another blog post but that didn't me too excited. Time to look at other major cities perhaps.

Now let's focus on London. Here are top 5 and bottom 5 where asking prices are concerned. Right on top was Haringey, that is quite surprising. At the other extreme, Greenwich fared the worst. But there is plenty of new builds coming up in Greenwich, so I expect prices to go up.

London Boroughs
Let's look at London by boroughs. At one glance, you can get a good feel which are the more expensive areas.  Right on to is Kensington and Chelsea.  At the bottom - Barking and Dagenham.

Take note that Rightmove data is asking prices, which is different from the actual transacted price. 

Rightmove claims that their website advertises 90% of all homes for sale via estate agents in UK and they get 80 million visits a month.

Happy investing!