Average mortgage price for houses in London 2021-2022, by borough
The average cost of buying a new residential dwelling with a mortgage will always end up costing more due to the interest rates placed on the repayment of the loan. Even with a relatively low interest rate, the added costs on top of the original asking price can amount to thousands of British pounds.
Location plays a substantial role in the real estate market. House prices vary widely not only in different regions but also in different counties in the United Kingdom (UK). In London, which is the most expensive city in the UK, house prices were the highest in Kensington and Chelsea and Camden. In Kensington and Chelsea, average house price there was almost 1.4 million British pounds compared to a house in Barking and Dagenham, which was approximately three times more affordable.
As of June 2022, the house price index for London was almost 134 points which means that the average price for all residential property types (detached, semi-detached and terraced houses, as well as flats and maisonettes) had increased by almost 34 percent since the beginning of 2015. The HPI for the United Kingdom (UK) followed the same trend.
Location, location, location
Location plays a substantial role in the real estate market. House prices vary widely not only in different regions but also in different counties in the United Kingdom (UK). In London, which is the most expensive city in the UK, house prices were the highest in Kensington and Chelsea and Camden. In Kensington and Chelsea, average house price there was almost 1.4 million British pounds compared to a house in Barking and Dagenham, which was approximately three times more affordable.
House price index in London
As of June 2022, the house price index for London was almost 134 points which means that the average price for all residential property types (detached, semi-detached and terraced houses, as well as flats and maisonettes) had increased by almost 34 percent since the beginning of 2015. The HPI for the United Kingdom (UK) followed the same trend.
