Hillingdon house prices dropped more than London average in February

House prices dropped by 1.4% – more than the average for London – in Hillingdon in February, new figures show.

But the drop does not reverse the longer-term trend, which has seen property prices in the area achieve 4.7% annual growth.

The average Hillingdon house price in February was £460,008, Land Registry figures show – a 1.4% decrease on January.

Over the month, the picture was similar to that across London, where prices decreased 1.1%, and Hillingdon underperformed compared to the 1% drop for the UK as a whole.

Over the last year, the average sale price of property in Hillingdon rose by £21,000 – putting the area 17th among London’s 33 local authorities with price data for annual growth.

The best annual growth in the region was in City of London, where property prices increased on average by 13.4%, to £961,000. At the other end of the scale, properties in Westminster lost 8.8% of their value, giving an average price of £968,000.

Winners and Losers

Owners of terraced houses fared worst in Hillingdon in February – they dropped 1.7% in price, to £448,890 on average. But over the last year, prices rose by 5.1%.

Among other types of property:

• Detached: down 1.1% monthly; up 4.4% annually; £923,165 average
• Semi-detached: down 1.4% monthly; up 4.7% annually; £583,400 average
• Flats: down 1.3% monthly; up 4.2% annually; £287,673 average

First steps on the property ladder

First-time buyers in Hillingdon spent an average of £381,000 on their property – £17,000 more than a year ago, and £39,000 more than in February 2018.

By comparison, former owner-occupiers paid £538,000 on average in February – 41.1% more than first-time buyers.

How do property prices in Hillingdon compare?

Buyers paid 13.6% less than the average price in London (£532,000) in February for a property in Hillingdon. Across London, property prices are lower than those across the UK, where the average cost £288,000.

The most expensive properties in London were in Kensington and Chelsea – £1.3 million on average, and 2.9 times as much as more than in Hillingdon. Kensington and Chelsea properties cost 3.8 times as much as homes in Barking and Dagenham (£345,000 average), at the other end of the scale.

The highest property prices across the UK were in 160.

Factfile

Average property price in February

• Hillingdon: £460,008
• London:£532,212
• UK: £287,506

Annual growth to February

• Hillingdon: +4.7%
• London: +2.9%
• UK: +5.5%

Best and worst annual growth in London

• City of London: +13.4%
• Westminster: -8.8%