London flats worth less than in 2017
The Capital's flats are worth less than in 2017, new figures comparing the square metre price reveal.
London flats are worth less than in 2017, reveal new figures.
Based on more than a million sales in the Capital, flats are priced at £6,639 per square metre compared to £6,787, nine years ago.
The data was collected by merging sales values from Land Registry with EPC certificates, carried out by video property listings platform Gaffon.com. By contrast, terraced houses rose 40% in value during the same period.
Failing prices
Gaffon matched 1,091,977 register sales to their energy certificates and prices per square metre.
It explained London prices haven’t really fallen – having stopped, four years ago, with inflation doing the work ever since. With roughly 20% inflation since 2022, real values have fallen substantially, it said.
Kensington & Chelsea suffered a major fall of 26% from a peak in 2018, while Waltham Forest is the only borough at a per square metre record, up 2%.
Barking and Dagenham, Redbridge and Bromley all saw increases, driven by terraced and semi-detached houses – up from 20% to 32% since 2019 -, while flats moved 1% to 5%. New-builds are 3% or less of those sales, Gaffon said.
