London asking house prices rise across all boroughs to hit new record high

London house prices rose across all boroughs to reach a record high. The average asking price for a property in London is now GBP677.110. This is despite the fact that it has seen a 13.8 percent increase in property prices to GBP1.74million, making it the most expensive area to live in London. The influx of wealthy international buyers into the London property market has fueled demand for the multi-million-pound royal borough’s homes. It is now the most expensive place to live in London. Prices in Sutton in south are up 11.2% to GBP540.305. Ealing in west saw a slight decrease of 0.9 percent since last month. Prices are still rising by 4.1% annually, but Lambeth in the south has seen the slowest annual growth at just 0.7%. The average home is currently priced at GBP661,069. The growth has been slower in Brent (2.8%), Hammersmith and Fulham (3%) and Camden (3.3%). Our current market statistics show that there is more certainty than ever that your property will sell faster than ever before and likely at record prices, even though there is increasing economic uncertainty. It is unlikely that this trend will continue, but the market imbalance and demand are so out of whack, it appears that any slowdown in property sales will be gradual and not a sudden one. “Hat-trick for UK House Prices” The pace of UK house prices is slowing as expected due to economic headwinds such as the inflated cost-of-living and rising interest rates. However, these are unlikely to be significant given the ongoing supply and demand imbalance. “The market’s speed and the competition for buyers when making an onward movement will deter some owners from putting up their homes for sale,” stated Mr Bannister. It’s easier to sell your home quickly and buy quickly than it is to find a buyer in a slow market. Finding a buyer can take months or even never happen. “Over 125,000 sellers have taken advantage this month of the great sellers market, but more are needed in all areas to meet high buyer demand. “Average house prices in all London boroughsBoroughAvg. price Apr 2022Monthly change (%)Annual change (%)Kensington and ChelseaGBP1,736,077213.8HaveringGBP475,1501.911.3WestminsterGBP1,441,3402.411.2SuttonGBP540,3052.911.2MertonGBP716,574310.3BromleyGBP615,3040.710.2Barking and DagenhamGBP365,9070.610HillingdonGBP550,3861.38HarrowGBP621,8082.77.7Kingston GBP692,0181.37.7Waltham ForestGBP548,3901.77.2RedbridgeGBP510,1911.56.8BexleyGBP466,0150.66.8CroydonGBP488,3101.56.7HaringeyGBP663,4981.26.4BarnetGBP700,08556.2WandsworthGBP830,74716Richmond GBP922,6141.95.5EnfieldGBP503,0962.85.4IslingtonGBP771,6691.35.1GreenwichGBP484,2281.14.7NewhamGBP455,3801.74.4SouthwarkGBP652,1400.24.3EalingGBP593,052-0.94.1HackneyGBP680,0162.14.1LewishamGBP509,4310.83.9Tower HamletsGBP580,9781.33.9HounslowGBP583,2902.43.5CamdenGBP1,000,9521.23.3Hammersmith and FulhamGBP964,9161.43BrentGBP614,0621.42.8LambethGBP661,0691.80.7