Reviewing the latest ONS figures for property price growth

Recent figures from the Office of National Statistics (ONS) show that the most affordable Boroughs in London continue to show the best price growth. They recently released data from the last year to August and the figures make really impressive reading, particularly for property owners in areas like Newham, Havering, Waltham Forest, and Barking and Dagenham.

The Borough of Newham saw the best performance in the period. It enjoyed price growth of 23.7%, from slightly over £300,000 to close to £373,000 on average. This has delivered fantastic rewards to property owners.

Havering followed Newham but the difference between the two was incredible. With prices up by 19% in the period the rewards were slightly over £55,000 on average.

Waltham Forest saw 18.9% growth, placing it a close third. Surprisingly the growth translated to an average increase in value just below £70,000. This is not too far behind Newham.

Barking and Dagenham saw an average increase of around £40,000 or 17.1% in the same period. This is very impressive considering the Borough has the honour of being the most affordable in the whole of the capital.

The huge price growth in each of these areas vastly outstrips the UK average. In the 12 months to August 2016 average prices across the UK were up 9.2%. This shows how much demand there is in the affordable areas of London.

At Finefair we can help clients looking for investment properties in Newham or any other area in the capital. We are well established and take a bespoke approach to advising prospective buyers. We do this because we understand that each individual will have their own requirements; our flexibility helps us to serve them to the best of our ability.

If you have any questions about investment properties we can offer support and advice, helping clients through the whole course of the searching, preparing for and finalising a purchase. One thing we will help with in particular is choosing which area to invest in to stand the best chance of making a healthy return.