Camden house prices increased in June
House prices increased by 2.1% in Camden in June, new figures show.
The boost contributes to the longer-term trend, which has seen property prices in the area achieve 3.8% annual growth.
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Hide AdThe average Camden house price in June was £878,870.1571, Land Registry figures show – a 2.1% increase on May.
Over the month, the picture was similar to that across London, where prices increased 2.5322733%, and Camden underperformed compared to the 4.4989563% rise for the UK as a whole.
Over the last year, the average sale price of property in Camden rose by £32,000 – putting the area 22nd among London’s 33 local authorities for annual growth.
The best annual growth in the region was in Harrow, where property prices increased on average by 16.7%, to £522,000. At the other end of the scale, properties in City of London lost 13.2% of their value, giving an average price of £756,000.
Winners and Losers
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Hide AdOwners of flats saw the biggest improvement in property prices in Camden in June – they increased 2.1%, to £785,702.5964 on average. Over the last year, prices rose by 3.4%.
Among other types of property:
Detached: up 0.9% monthly; up 7.1% annually; £3,173,927.695 averageSemi-detached: up 1.2% monthly; up 6.1% annually; £2,137,343.353 averageTerraced: up 2.1% monthly; up 6% annually; £1,410,598.98 average
First steps on the property ladder
First-time buyers in Camden spent an average of £747,000 on their property – £26,000 more than a year ago, and £86,000 more than in June 2016.
By comparison, former owner-occupiers paid £1,029,000 on average in June – 37.6% more than first-time buyers.
How do property prices in Camden compare?
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Hide AdBuyers paid 72.2% more than the average price in London (£510,000) in June for a property in Camden. Across London, property prices are high compared to those across the UK, where the average cost £266,000.
The most expensive properties in London were in Kensington and Chelsea – £1.2 million on average, and 1.4 times as much as in Camden. Kensington and Chelsea properties cost 3.9 times as much as homes in Barking and Dagenham (£319,000 average), at the other end of the scale.
The highest property prices across the UK were in Kensington and Chelsea, where the average June sale price of £1.2 million could buy 13 properties in Burnley (average £99,000).
Factfile
Average property price in June
Camden: £878,870.1571London:£510,298.6011UK: £265,668.1787
Annual growth to June
Camden: +3.8%London: +6.3%UK: +13.2%
Best and worst annual growth in London
Harrow: +16.7%City of London: -13.2%