Lewisham house prices increased slightly in June

File photo dated 14/10/14 of sold and for sale signs. House prices across the UK are expected to increase by 4 percent this year, according to a property group's forecasts. Issue date: Tuesday March 9, 2021.

House prices increased slightly, by 0.3%, in Lewisham in June, new figures show.

The boost contributes to the longer-term trend, which has seen property prices in the area achieve 3.6% annual growth.

The average Lewisham house price in June was £438,598.6355, Land Registry figures show – a 0.3% increase on May.

Over the month, the picture was less good than that across London, where prices increased 2.5322733%, and Lewisham underperformed compared to the 4.4989563% rise for the UK as a whole.

Over the last year, the average sale price of property in Lewisham rose by £15,000 – putting the area 23rd 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

Owners of terraced houses saw the biggest improvement in property prices in Lewisham in June – they increased 0.6%, to £531,562.3465 on average. Over the last year, prices rose by 5.8%.

Among other types of property:

Detached: down 0.1% monthly; up 4.8% annually; £890,239.9016 averageSemi-detached: up 0.2% monthly; up 4.8% annually; £721,614.635 averageFlats: up 0.2% monthly; up 2.2% annually; £358,130.9017 average

First steps on the property ladder

First-time buyers in Lewisham spent an average of £381,000 on their property – £12,000 more than a year ago, and £26,000 more than in June 2016.

By comparison, former owner-occupiers paid £528,000 on average in June – 38.7% more than first-time buyers.

How do property prices in Lewisham compare?

Buyers paid 14.1% less than the average price in London (£510,000) in June for a property in Lewisham. 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 2.8 times as much as in Lewisham. 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

Lewisham: £438,598.6355London:£510,298.6011UK: £265,668.1787

Annual growth to June

Lewisham: +3.6%London: +6.3%UK: +13.2%

Best and worst annual growth in London

Harrow: +16.7%City of London: -13.2%