Property prices in London in Kensington and Chelsea rose 17% for the year

Prices for property in England and Wales fell 0.2% in July 2017, down for the year by 2.9% , the biggest decline in prices since July 2013. However, there are regions where prices were rising. So, the prices of real estate in England the East of the country grew by 5.1%, Wales saw a record number of sales, but the area of London Lewisham – showed growth in real estate prices only for July of 2.4%.

The data presented by Your Move show that the average price of property in England and Wales has reached £298906, and sales (number of transactions) declined 9% in July. The activity in the markets of real estate of London and the East of England continues to grow.

The activity of buyers in other regions of England too high, but only in respect of affordable housing. A significant activity in the cheap areas of London and from first-time buyers a house, as there is tangible help from the government.

The decline in prices, which was observed in July, were not yet reduced to “no”, the annual price growth. The biggest failure in July happened in Wales and 1.5%. Significantly reduced prices in the West Midlands – from 1.3% to 3.3%.

In Yorkshire and the Humber, the decline was from 1.2% to 1.5%. And in the South-East of England rates increased from 1.2% to 3.5%. This imbalance between the East and the neighbouring regions mean that neighbouring regions is pretty increased in price since the beginning of the year and now there is a price correction.

The Eastern city of England continue to lead in price growth In Southend on sea prices for the year increased by 10.2%, Luton and Bedfordshire – 8 %.

Average price of property in London falling for the third consecutive month and fell 1.5% – the largest drop over the past six years, but even now, property prices in London still remain at £14244 higher than last year. In General, falling prices in London amounted, in absolute terms, £8903 pounds and the average price of property in London is two times higher than the national average – £602849. The trend in London consists of 33 trends London, of which 17 districts prices have fallen and 16, prices rose. So, the three most expensive area of London, the leader among which is the Kensington and Chelsea again showed significant price increases. In Kensington and Chelsea prices increased by 17.3% compared to last year and reached £1954735.

Falling prices in one of the most expensive districts of London – Westminster was 11.6% , and in the city was 8.2%.

On the other side of the scale, housing prices continue to rise. Prices rose in offering links and Greenwich. Greenwich, according to experts, remains the most prospective area of London.

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