Average property price in London hits half-million-pound

Improved Buy to let availabilityThe properties in London are now having the average prices almost more than £500,000 in half of all postcodes, but still there are homes under half a million. Business activity is growing fastest in these more affordable parts of the capital, according to Stirling Ackroyd analysis. Average house price across London on whole was £540,200 last year which had the growth of 6.6%. Around 51% of the postcodes with the average property price at least £500,000 are in the capital. Wherein, England & Wales over 99% of postcodes are with average property values under half a million pounds.

Andrew Bridges, managing director of Stirling Ackroyd, says: “London is increasingly another country, with more and more territory being claimed by home values only dreamed of by sellers in the past. Gone are the days of the traditional prejudices about certain postcodes.”

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