Bor­ough homes have reached £400k av­er­age

Houses in area up 17% in just a year

Harefield Gazette - - NEWS - By Kather­ine Clemen­tine kather­ine.clemen­tine@trin­i­tymir­

HILLING­DON bor­ough’s house prices are the fastest grow­ing in Lon­don, with the av­er­age house value reach­ing al­most £400,000.

Prices in the area were 17.1 per cent higher at the end of Fe­bru­ary than a year ear­lier, hav­ing risen by 1.4 per cent in a month.

Over­all, the rise was the third highest in the whole of Eng­land and Wales, with the av­er­age price in the area now at £391,728.

Hilling­don’s rapid price rise was beaten only by Slough, Berk­shire, which in­creased by 19 per cent and has an av­er­age price of £236,023, and Thur­rock, Es­sex, which in­creased by 17.2 per cent and has an av­er­age price of £194,207.

In nearby Houn­slow, prices were 13.6 per cent higher than at the same point in 2015, al­though prices fell by 0.5 per cent in Fe­bru­ary, with an av­er­age price of £409,062.

Har­row saw an an­nual in­crease of 11.7 per cent, with an av­er­age price of £425,111, and Brent saw prices rise 11.2 per cent to an av­er­age of £478,285.

Ham­mer­smith and Ful­ham recorded one of the big­gest monthly rises, up 2.2 per cent in Fe­bru­ary.

Hilling­don’s growth rate is al­most three times the av­er­age na­tional rise in house prices, which was 6.1 per cent in the year to Fe­bru­ary, which takes the av­er­age prop­erty value in Eng­land and Wales to £190,275.

Lon­don ex­pe­ri­enced the great­est in­crease in its av­er­age prop­erty value over the past 12 months with a move­ment of 13.5 per cent.

On a na­tional scale, the num­ber of prop­er­ties sold in Eng­land and Wales for more than £1 mil­lion in­creased by two per cent to 1,077 from 1,052 a year ear­lier.

Re­pos­ses­sions in Eng­land and Wales fell by 50 per cent to 356 com­pared with 706 in De­cem­ber 2014.

Lon­don comes out on top again as it is the re­gion with the great­est fall in the num­ber of re­pos­ses­sion sales, drop­ping by 67 per cent for the 12 months from De­cem­ber 2014.

But it is bad news for pri­vate renters as the rental prices for homes in­creased in all English re­gions over the year to Fe­bru­ary 2016, with rents in­creas­ing the most in Lon­don – at 3.8 per cent.

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