Barking and Dagenham record double-digit price rises

The only remaining London borough where home prices on the resale market have increased by double digits is Barking and Dagenham, according to analysis of Land Registry data by Bloomberg. The east London district defied a wider house price slowdown in the capital the research found. The opening of a new train station in the summer, connecting Barking Riverside to central London in as little as 22 minutes, may have contributed to the 10% increase in the borough’s home prices during the period. The figures show the median price paid for an existing home in Barking and Dagenham was more than £377,000 ($449,460) in July compared with about £341,900 one year prior. Transport for London says reduced journey times to central London will help create 7,000 more homes in the Barking Riverside area, on top of the 3,000 already built or under construction in the former industrial site. An Uber Boat service which opened in April also runs from Barking Riverside Pier to central London locations including Canary Wharf, Westminster and the City.

Bloomberg