Lewisham experiences fastest house price rises in London

The Standard reports:

House prices are rising the fastest in the south-east London borough of Lewisham [19.9% annually], according to new Land Registry figures.

Lewisham's vastly improved transport links and planned housing developments have helped it take the top spot on a list previously dominated by areas already seeing an uplift from the Elizabeth line, such as Hillingdon and Havering.

A surge of interest from homebuyers in areas such as Blackheath, Brockley and New Cross has led to annual house price rises of almost 20 per cent, with the average cost of buying a home in Lewisham now standing at £473,303.

The borough has recently been named as one of the capital's leading first-time buyer hotspots, with more than half of all homes sold in the SE13 postcode bought by people taking their first steps on the property ladder.

Lewisham's growth looks set to continue if the Bakerloo line extension goes ahead, which will improve the currently Tube-starved area further. More investment by the council and plans for new-build homes are also contributing to forecasted continued growth.


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