Murky Depths

News in London and beyond

Bexley borough, Greenwich borough, Lewisham borough

House prices in Greenwich borough drop 3.7 per cent on the month

New figures show a sizable monthly drop for average house prices in Greenwich borough.

The average price dropped 3.7 per cent for November according to figures from LSL derived from the Land Registry.

Latest figures

Aside from the ONS these figures are the most reliable as they come from actual sale prices registered with the Land Registry, and offer far more coverage than Halifax, Nationwide or Right move which measures asking prices and not sold prices.

However monthly figures can jump widely – often depending on the number of new-builds are sold. Annual figures showed a 0.9 per cent rise.

Lewisham new builds

Lewisham borough on the other hand saw a three per cent annual fall but a 0.1 per cent rise on November.

Both boroughs overall continue the trend of drifts downwards seen over the past year. Bexley was up 1 per cent on the month and at zero change over the year.

3 Comments

  1. Graham

    Sadly I think we will see house prices fall in Greenwich for sometime to come.

    Although good for some first time buyers trying to get on the housing ladder, It is not good news for those trying to sell their homes.

  2. It is especially not good for those who overpaid in the first place. However, prices in Greenwich will still be too high for many.

  3. Graham

    Totally agree with you anonymous201481.

    I have no idea how local people can afford to get a mortgage to purchase a property in Greenwich Borough as the prices are far too high and out weigh most peoples wages in the Borough.

    Hence the urgent need for more social housing at local affordable rents.

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