Southwark house prices 'climbed 6.7% in March'
Southwark saw the biggest increase of any London borough in terms of its house prices last month, new figures have shown.
Rightmove's latest House Price Index published yesterday (April 16th) has revealed that properties in this area went up in cost by 6.7 per cent to £436,727 in March from £409,383 one month previously.
This figure is in stark contrast to the decline of 3.1 per cent - from £553.749 to £536,533 - witnessed in Hackney over the same time period, with this area being the London region that experienced the biggest monthly fall.
Overall, prices in the capital city have soared 14.9 per cent - £60,403 - since the Nationwide peak of May 2008 and the strength of London's market is shown in the fact that asking prices across the rest of the country have dipped by 4.3 per cent since then.
Miles Shipside, director of Rightmove, explained that the trend of banks' willingness to lend being a vital driver behind costs as well as consumer demand has made "buying aspirations more achievable in the relatively credit-worthy south and London in particular" in recent times.
Posted by Martyn Glynn
Published 17th April, 2012
© 2012 Estates IT Limited
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The average price of a house in Southwark rose by 6.7 per cent in March, new figures have shown.