Looking at the average price of properties sold over the past year across London shows an interesting picture of areas that are crossing key price thresholds. House price growth has resulted in a 27% increase in the number of wards where the average value of property sold over the 12 months to the end of May exceeded £500k, and a 153% increase over the past five years. The catalyst for change in these areas can be organic expansion of the neighbouring prime locations or from regeneration and infrastructure improvements.

On this map, we show areas with average sale prices of £500k – £750k, £750k – £1m and £1m+ using Land Registry records of sales over the past year. Areas shaded pink and purple show wards where the average sale price crossed a threshold compared to the previous year’s average, with the depth of shade representing different values.

At the top end of the London housing market, the number of wards with an average sale price of over £1m has risen from 17 to 50 in five years. The boroughs of Kensington & Chelsea and Westminster account for the vast majority of £1m+ wards, while this year locations including Earls Court, North Kensington, Bayswater and Victoria joined the more established markets such as Chelsea and Mayfair. Beyond central London, the £1m+ market has expanded to include more of Fulham, Highgate, Chiswick, East Sheen and Dulwich.

In the lower tiers of the prime market, many of the newcomers have benefited from being locations next door to a high value housing market. In the south west, Tooting and Kingston are good examples and to the north west Kilburn is joining the two much higher value housing markets of West Hampstead and St John’s Wood. Other locations such as Old Oak Common and Greenwich are seeing the results of regeneration, while South Acton has seen an uplift in the anticipation of Crossrail.

Explore the interactive map in a new window >>