We are currently experiencing technical difficulties with our telephone system.
We apologise for any inconvenience and are working to resolve this as soon as possible.
Secured Loans > House prices increase by a quarter in Greenwich, reports Halifax

House prices increase by a quarter in Greenwich, reports Halifax

30th January 2015 | Published by Evo Money

Homes in the London Borough of Greenwich recorded the highest leap in value during 2014, says Halifax, the UK’s biggest mortgage lender.

The London borough is at the top of the Halifax’s list of rising house prices in cities and towns throughout the UK. The average house value in Greenwich rose from £263,183 at the end of 2013, to £328,044 at the end of November 2014, an increase of 24.6 per cent, close to three times as much as the national average of 8.5 per cent.

Halifax compiled its list from data regarding the number of mortgages it has approved during 2014. Unsurprisingly, the top of the list is dominated by London boroughs, with all but one of the top ten being in the capital. Ealing saw the second biggest rise, recording price increases of 24.5 per cent. The average house value there is now £365,859.

Prices increased in a number of other London boroughs by more than one fifth, including Sutton and Tower Hamlets. The only town in the top ten that is not in London, is Crawley in Sussex, where prices rose by 22.4 per cent according to Halifax. The town has excellent commuter links to London and a lower average house price of £267,925.

In the capital as a whole, house values rose by £43,935, thirteen per cent over all, despite estate agents reporting a slowdown in housing market activity towards the end of the year.

In stark opposition to the increased affluence of London and the south east, house values fell in many areas in the north of England, Scotland and Wales. The biggest slump was in Bury, Greater Manchester, where prices fell by 4.8 per cent, £7,000. House values in Keighley in West Yorkshire also fell, dropping by 4.4 per cent. Other areas recording a drop were Nuneaton and Stoke-on-Trent in the West Midlands and Newport in Wales.

Category: Money
This post was written by Evo Money
Warning: Late payment can cause you serious money problems. For help, go to moneyhelper.org.uk
Representative 28.96% APRC (Variable) - For a typical loan of £20,950 over 85 months with a variable interest rate of 23.00% per annum, your monthly repayments would be £537.44. Including a Product Fee of £2,095.00 (10% of the loan amount) and a Lending Fee of £714.00, the total amount repayable is £45,682.15. Annual Interest Rates ranging from 11.7% to 46.5% (variable). Maximum 50.00% APRC. The loan must be paid back by your 70th birthday. Read more.

Think carefully before securing debts against your home your home may be repossessed if you do not keep up repayments on your mortgage or any other loan secured against it. If you are thinking of consolidating existing borrowing, you should be aware that you may be extending the terms of the debt and increasing the total amount you repay.
© 2024 Evolution Money | Cookie Policy | Terms & Conditions | Fair Processing Notice
Start Here
Please wait

Please wait

Don't leave just yet!

Evolution Money are a multi Award Winning UK finance company with thousands of happy customers!

Award Winning

Our friendly loan advisors can let you know if you're eligible for a loan without affecting your credit score. Why not give us a call today!

Freephone 0800 144 8188

Back to Evolution