In this edition of Delving into Data, with debate around the impact Brexit negotiations will have on the London property market, we take a look at the current state of affairs in the UK's capital.
- London adds over £60k to the average asking price of properties in the UK; the London average is £324k, vs. £262k outside the capital.
- London makes up almost 30% of the property sale market by asking price, and over 43% of the rental market by asking price.
- Going by volume however, London districts make up less than 13% of the sale market and 32% of the rental market.
- Despite this, both London sale and rental properties are on average on the market for less time than the rest of the UK.
- The district with the highest percentage of properties on the market is WC2R (Somerset House) with 11.95% of properties for sale. However, with a total of only 293 properties in the area, a particularly high percentage. The second highest percentage of for sale properties is in EN6 (Potters Bar, South Mimms, Cuffley, Northaw), at 2.69% of the total on the market.
- The top 9 highest average asking price postal areas are all London; with postal area AL (St Albans) in at number 10, followed by a succession of London areas until HP (Hemel Hempstead) which ranks at number 19.
- The district with the highest number of rental properties available is NW8 (St John's Wood, Primrose Hill, Lisson Grove), with 1210 properties to let, at an average montly price of £2,018.
- The lowest average rental prices are located in EC4N, EC1A and EC4V, ranging from averages of £360 - £493.
- The average asking price for a property in London is £755,064.
Look out for our next Delving Into Data feature coming soon on our Insights page.