Lewisham house prices defy London downturn

For more than a decade, Lewisham house prices have been rising faster than the London average as inner city living has become more fashionable and improved transport links have attracted people priced-out elsewhere. The result is that, from a low base, Lewisham has moved up the league table of London boroughs in terms of average prices.

So one might of assumed that Lewisham would be among the fastest-fallers as London prices have started to fall in the last year. But new data from the ONS shows that in 2017, Lewisham house prices continued to rise at one of the fastest rates in the capital as the most expensive boroughs dipped.

The ONS found that between February 2017 and February 2018 the price of the average Lewisham home rose 2.7% to £414,516.

Speculative hotspots like Westminster (-2.4%), Hammersmith & Fulham (-5%) and Tower Hamlets (-7.9%) have taken a hammering, while more affordable outer boroughs such as Barking & Dagenham (4.4%) and Redbridge (8.9%) have shot up. Lewisham remains in the top ten fastest risers.

Thanks to Monkeyboy for sharing the data.

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