Bromley house prices increased slightly in August
House prices increased slightly, by 0.3%, in Bromley in August, new figures show.
The rise contributes to the longer-term trend, which has seen property prices in the area grow by 0.5% over the last year.
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Hide AdThe average Bromley house price in August was £511,635, Land Registry figures show – a 0.3% increase on July.
Over the month, the picture was similar to that across London, where prices decreased 0.1%.
Over the last year, the average sale price of property in Bromley rose by £2,600 – putting the area 10th among London’s 33 local authorities with price data for annual growth.
The highest annual growth in the region was in Haringey, where property prices increased on average by 5.8%, to £630,000. At the other end of the scale, properties in Kensington and Chelsea lost 10.4% of their value, giving an average price of £1,359,000.
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Hide AdFirst steps on the property ladder
First-time buyers in Bromley spent an average of £398,130 on their property – £630 more than a year ago, and £43,770 more than in August 2018.
By comparison, former owner-occupiers paid £594,770 on average in August – 49.4% more than first-time buyers.
Property types
Owners of detached houses saw the biggest rise in property prices in Bromley in August – they increased 0.7%, to £1,068,488 on average. Over the last year, prices rose by 1.3%.
Among other types of property:
How do property prices in Bromley compare?
Buyers paid 4.5% less than the average price in London (£536,000) in August for a property in Bromley. Across London, property prices are high compared to those across the UK, where the average cost is £291,000.
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Hide AdThe most expensive properties in London were in Kensington and Chelsea – £1.4 million on average, and 2.7 times the price as in Bromley. Kensington and Chelsea properties cost 3.9 times the price as homes in Barking and Dagenham (£349,000 average), at the other end of the scale.
The highest property prices across the UK were in Kensington and Chelsea (£1.4 million).
Factfile
Average property price in August
- Bromley: £511,635
- London:£535,597
- UK: £291,044
Annual change to August
- Bromley: +0.5%
- London: -1.4%
- UK: +0.2%
Highest and lowest annual growth in London
- Haringey: +5.8%
- Kensington and Chelsea: -10.4%