Greenwich borough house prices still falling fast – down 7.5 per cent annually

New data has shown that annual price falls continue in Greenwich borough are down 7.5 per cent on the year.

However that is a slightly less than more than ten per cent seen for much of the past six months, helped by a one per cent monthly rise.

New builds in Canary Wharf

In London Tower Hamlets are leading the way at 16.1 per cent annual reductions.

It should be noted monthly figures are volatile. It’s best to look at annual falls and both Greenwich and Tower Hamlets have seen sizable falls reported monthly for some time.

London

Across the capital London saw 2.1 per cent annual falls. Those are sold prices.

In terms of asking prices, Rightmove have stated that there was a 2.1 per cent fall in the latest month alone.

With interest rates possibly staying high until 2025, that monthly asking price could point the way to likely reductions on sale prices down the line.

 

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I've lived in south east London most of my life growing up in Greenwich borough and working in the area for many years. The site has contributors on occasion and we cover many different topics. Living and working in the area offers an insight into what is happening locally.

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