Camden house prices up 3.1% in June, report shows

Camden has led the way in terms of regional house price rises in London over the course of this month, new figures have revealed.

According to Rightmove's latest House Price Index - which was released this morning (June 18th) - the average cost of a residential property has risen by 1.7 per cent in June across the capital city when compared to May.

The typical asking price for a home in London now stands at a record-high of £477,440 - a figure that represents a hike of 8.8 per cent on the cost recorded in the corresponding month last year.

This is significantly more than the collective median asking price of £246,235 posted for the England and Wales and Rightmove indicated the fact that the countries have experienced overall growth of one per cent in June is largely due to the ongoing strength of the London market.

And the gains seen in the capital during this month have been driven by the strong performance of certain areas of the city.

Chief among these regions are Camden - which has seen prices go up by 3.1 per cent to a median figure of £955,126 - and Wandsworth, a borough that has seen costs rise by 2.8 per cent to £687,279.

Meanwhile, houses in Kensington and Chelsea are now also worth an average of 2.8 per cent more than in May at £2.14 million each, with homes in Kingston-upon-Thames and Croydon rising in value by 2.5 per cent.

At the other end of the scale, properties in the City of Westminster have slipped in worth by 5.9 per cent to £1.4 million this month, while asking prices in Sutton have declined by two per cent to £350,707.

However, Miles Shipside, commercial director of Rightmove, noted: "It is likely we have seen the last of record asking prices for the remainder of 2012."

Posted by Andy Britten

Published 18th June, 2012

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