A vote of confidence for London house prices
- 12th December 2019
- Buying Property News
Southwark tops list of London boroughs for price growth
House prices in London have experienced their highest growth in two years*, as increasing demand and greater confidence in the market has caused prices to rise.
Along with full employment, rising wages and an increasing wide and diversified range of industries investing in the capital, another factor influencing the rise in house prices is the increasing amount of mortgage funding available. The number of mortgages approved for buying a house increased by 3% last year. This is positive news for first-time buyers, in particular, as it becomes easier for them to get on the property ladder.
Southwark comes out on top of over 30 London boroughs that have reported recent price growth, with house prices in the South London borough increasing by 2.5% over the last year. Islington in North London is also in the top five with a 1.7% rise.
This house price growth comes part of a wider trend of regeneration within the boroughs of Southwark and Islington. Their growing popularity has had a positive effect on the housing market in Zones Two and Three, pushing up prices.
Stephen Ludlow, Chairman at ludlowthompson, says “The momentum building in house prices in Zones Two and Three means buyers should invest in property where they perceive better value for money.”
“Once the outcome of the election and related Brexit legislation becomes more apparent, we expect that London house prices will continue to rise.”
ludlowthompson maintains its transparency by encouraging customer reviews across a number of platforms. Over a three-year period, we ranked number 1 agent in the UK on all agents out of 15,000+ agents, with 5300+ 5* reviews. Here is a selection of recent reviews of happy customers of ludlowthompson via Google Reviews:
Ed Pan via Google Reviews:
“Really impressed with the attention, flexibility and prompt responses from the team at the ludlowthompson Oval branch. Thank you.”
Danielle Kamdeu via Google Reviews:
“It has been a great pleasure and an awesome experience dealing with ludlowthompson. I have been satisfied throughout the process as the communication and service received were efficient, prompt and very professional. All the Best to such a lovely organisation!”
“The momentum building in house prices in Zones Two and Three means buyers should invest in property where they perceive better value for money.”
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