If you are wondering why London residential real estate continues to remain attractive for international investors, then here is some interesting insight. London borough average house prices have increased by 59 per cent since 2009, with prices in the City of London and Waltham Forest doubling, according to latest research data from Lloyds Bank.
While the global financial crisis impacted the London housing market, prices have rebounded since 2009. London’s ‘Prime boroughs’ - City of London, Westminster and Kensington & Chelsea - led the road to recovery between 2009 and 2014 with an 80 per cent increase in average house prices. Homes in the City of London nearly doubled in that period from £455,020 to £894,046 (97 per cent), followed by Westminster (86 per cent) and Kensington & Chelsea (74 per cent).
Other areas also performed extremely well. The average house price in Greater London increased by 59 per cent from £362,641 in 2009 to £578,381 in 2016, compared to a growth of 31 per cent for England and Wales. House prices in the City of London have doubled (whopping 100 per cent increase) since 2009 to £908,759, closely followed by the borough of Waltham Forest which also had a significant increase of 97 per cent to £433,105.
At this growth rate, it is not a surprise that investors continue to believe in the London residential real estate market. Over the last 8 years, capital values of residential assets have grown considerably in London delivering fantastic ROI.
London borough average house prices increase by 59% from 2009, with prices in the City of London and Waltham Forest doubling