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TODAY'S OTHER NEWS

Over half of London now has £500,000-plus average property price

Some 51 per cent of postcodes within Greater London now have average property prices of £500,000 or more according to one of the capital’s estate agencies, Stirling Ackroyd. 

It says the ‘half-million-pound postcodes’ now include the East End’s E1 district and Del Boy’s old patch of Peckham SE15. But it says there are some homes for under half a million as centrally as SE16 - home to the Canada Water tube stop

It says SE and E postcodes in general (£449,500 and £434,000 averages respectively) are cheaper than even suburban HA, TW and KT prices.

The agency says average home prices across the whole of Greater London have already reached £540,200 - topped in the third quarter of last year, the most recent data available - after an annualised growth rate of 6.6 per cent across the capital.

Across England & Wales there are a total of 157 postcode districts with average property values above half a million pounds – of which 142 lie within Greater London.

“Lawyers and bankers are just as likely to live in Hackney as they are to choose Fulham, while the offices of law firms and financial services start-ups are found as frequently in Shoreditch or the Southbank as they are in the City” according to Andrew Bridges, managing director of Stirling Ackroyd.

  • Jon  Tarrey

    Ridiculous situation. Something needs to change. But I doubt it will.

    Not when we continue to roll out the red carpet to super-rich investors and the Buy-to-Leave brigade.

    Makes a mockery of the government's "affordable" homes drive, but then we all knew that was a load of old tosh, didn't we?

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