First quarter 2005

Property Hotspots for GREATER LONDON Prices shown in the tables below are arithmetic average prices of houses on which an offer of mortgage has been granted.  These prices can change in the sample from quarter to quarter.  Boroughs in red are current hotspots

Here you will find a general overview of the area

"House price ‘hot spots’ in Greater London include Greenwich, where house prices have risen by 14% over the last year to reach £221,760; Westminster, where house prices have risen by 13% to £523,726 and Islington, where house prices have risen by 11% to £391,866. 

The most affordable area to live in Greater London is Barking-and-Dagenham, where the average house price is £172,437.  This compares to an average price of £637,507 for Kensington & Chelsea, the most expensive London borough.

London's progress in the bid for the 2012 Olympic Games has continued to generate interest in the East London areas of Forest Gate and Stratford.  Forest Gate offers affordable housing for first time and second time buyers and provides easy access to both the City and West End. 

The more affordable areas of Stratford, particularly of interest to first time buyers, include the Carpenters Road area and the Abbey Lane area. This is mainly due to the location, which is a mixture of residential, council and commercial properties and the location - on the outskirts of the E15 postcode.  As well as the Olympic regeneration activities, the whole of Stratford is to benefit from the planned channel tunnel station, which is due to open in 2007.  The new international train station will link Stratford with France, Belgium, St. Pancras and Scotland.  There are also plans to develop a retail park, three department stories, offices, leisure facilities and schools within Stratford.

Uxbridge's town centre has benefited from retail development and the housing market in Uxbridge remains buoyant. The construction of terminal five at Heathrow has helped to build confidence in the area, as has the development of the Chimes and Pavillion’s shopping centres. An increasingly popular area with first time buyers, due to its excellent commuter links, there is a good supply of flats and starter homes in Uxbridge for around £160,000.  The city of London is within easy commutable distance from Uxbridge and takes approximately 30 minutes on the train.  In addition, there is a proposed 13 mile tram system, which will link Southall and Uxbridge to Shepherd's Bush. 

The development of the new Arsenal football stadium has had a positive effect upon the housing market in Highbury.  No longer hiding in the shadow of its fashionable neighbour, Islington, Highbury is likely to benefit from the new 60,000 Ashburton Grove stadium which includes residential developments, restaurants, entertainment and leisure facilities.  There are also planned residential developments at a brownfield site just south of the stadium.

The housing market in Dulwich continues to be strong and interest is shown in properties for less than £250,000 as soon as they come onto the market.  First time buyers are showing particular interest in Peckham and Camberwell, where property remains more affordable.

Bromley also remains popular with first time buyers, where one and two bedroom flats are particularly well sought after.  House prices in Bromley have risen by 4% over the last year to reach £272,407.  House prices in Bexley have increased by 4% over the last year to reach £194,509.  Properties coming to market at the right price in Bexley continue to attract buyers and sell well.

Hounslow is the only borough in Greater London where house prices have remained static over the last year