London prices booming

25th October 2013

According to new research the average home in four of London's 32 boroughs now costs over £1m.

Hammersmith & Fulham and Camden have joined Kensington & Chelsea and the City of Westminster with average prices of £1.09m and £1.01m respectively. Rightmove's figures also show that every London borough had an increase in asking price of at least 2.5% between September 8 and October 12. Average asking prices jumped 10.2% across London to £544,232, compared to a 2.8% rise across the country to £252,418. If house prices in the capital continue to grow at the rate of the past four months they would increase by more than 20% in a year.

The Times