London prices north of the river 'pull away from south'Monday, 16 May 2011 09:02
The gulf is beginning to widen between London properties located north of the Thames and homes south of the river, new figures suggest.
Chesterton Humberts’ April Poll of Polls – which brings together seven major house price indices including those of the Land Registry, Halifax, Nationwide and Rightmove – reveals that the average price of a house in north London is £367,594, around 1.2 per cent higher than last year.
But the average price of a house in south London is £305,249 – an annual increase of just 0.2 per cent.
This makes north London house prices £62,345 more expensive on average compared with south London.
The gulf between the two areas has continued to widen, from last year’s gap of £58,595, the property agent said.
Robert Bartlett, chief executive of Chesterton Humberts, said: “The growing divide between north and south London house prices reflects the intense international interest in prime central London property, as well as the historic premium put on transport as south London is less well served by the Underground.”
Meanwhile, across England and Wales, the top 20 per cent of the market will typically sell for £379,834, which is up by 1.7 per cent on last year, but a slight fall – 0.2 per cent – from the March 2011 figure.