Camden revealed as the top performing London borough

Exclusive research by leading property advisor, CBRE Residential, can reveal that the London Borough of Camden experienced a 13% increase in house price growth during 2017; the biggest increase of all 33 boroughs.

Exclusive research by leading property advisor, CBRE Residential, can reveal that the London Borough of Camden experienced a 13% increase in house price growth during 2017; the biggest increase of all 33 boroughs.

CBRE’s annual “Hot 100” report shows that Camden has knocked the London Borough of Newham off the top spot for annual average house price growth, following two consecutive years in first place. Camden is followed by Hackney (9% growth) and Haringey (7%), both of which are major regeneration centers.

Kensington and Chelsea remained the most expensive borough in 2017, with the highest average house prices in London.

Average house price growth, 2017

Hot 100 press release green graph.JPG

By analysing the top performing boroughs in a number of categories, including economic growth, affordability, lifestyle choices and employability, the Hot 100 report provides a snapshot of the biggest housing market trends.

The outer boroughs had considerable success too. Barking was proven to be the most affordable borough (using a ratio of average house prices to average earnings), whilst Newham was shown to be the most economically successful borough of 2017, with the highest GDP growth of 5.6%. 

Meanwhile, during the year that saw the biggest UK electoral turnout in a decade, the London Boroughs of Haringey and Westminster had the highest turnout, both at 75% - significantly surpassing the national average.

Mark Collins, Chairman of Residential at CBRE UK, comments: “The latest results of the annual CBRE Hot 100 report shows that confidence in London’s property market remains strong, with activity and investment growing.

“The London economy includes financial services, life sciences and many of the world’s best advisory firms. This diversity not only attracts people from all over the world to study and work here, but also creates a robust economy that stands strong throughout uncertainty and shock, and it is no surprise that the property market mirrors this resilience.

“The report highlights the impact that large-scale investment can have; creating communities, public realm, jobs and economic growth – all of which attracts new residents. The multimillion-pound regeneration project in Barking has transformed the borough in to one of the most sought-after areas for first time buyers and currently the most affordable borough in the capital for property purchasers.

“London remains one of the very top global cities. The combination of its strong economy, renowned education, world class heritage and diverse culture suggests that London’s population will keep growing for many years to come. Areas including Tower Hamlets, Newham and Greenwich are leading the way in creating new homes to welcome present and future residents to the capital, with over 26,000 new properties under construction between them.”