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Average London home now costs over £600,000

House prices in London have been soaring over the last ten years, however, they have now reached an all-time high.

The average price of a home in London has reached more than £600,000, meaning that it has almost doubled since 2009, according to figures from LSL.

The figures, based on analysis of Land Registry data including sales of new-build properties and those paid for in cash, show property values have hit new peaks in nine out of 10 regions (The Guardian, May 2016).

Demand continues to grow, putting politicians and house builders under pressure, as there is still a chronic shortage in quality housing supply.

It is shocking to learn that in London, prices have continued to soar with the cost of a home up by 11% year-on-year, at £600,625.

Some of the more affordable parts of London have experienced some of the steepest increases in house prices, as residents are being out-priced in central London and are looking for cheaper properties.

Here at Inspired, we are doing our very best to ensure that first time buyers in particular, have a realistic chance of getting onto the London property ladder.

Our London and Greater London homes start at just £183,950 and are not only fitted out to an extremely high quality, but also boast access to incredible resident facilities.

From Croydon to Sutton, and even Epsom and Chertsey, Inspired Homes are constantly building brilliant homes to give hard-working Londoner’s the chance to own their own property. In addition, we also have help to buy in place, meaning that a London apartment could be yours with just a 5% deposit.

To find out more about owning an Inspired home, please call 020 8688 6552.

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