Residential real estate price change in London 2023, by borough and property type
Five of London's boroughs witnessed an annual increase in residential property prices as of November 2023. In Redbridge, the borough with the highest price growth, residential prices rose by 4.2 percent year-on-year, with semi-detached house prices growing at an even faster rate (4.8 percent). In Richmond upon Thames, the average property price also increased by 4.2 percent, but for terraced houses, the increase was higher at 5.9 percent. The City of Westminster, Kensington and Chelsea, and the City of London, which happen to be some of the most expensive areas for housing in London, experienced the greatest decline in prices.