London's most up and coming neighbourhoods

London continues to have the highest house prices in the country, with the average UK house price increasing by more than 10 per cent in the year to November, according to new data from the Office for National Statistics (ONS).

London is the lowest region in England when it came to House Price Inflation , with the slowest rate of change at 6.3 per cent, down from 6.7 per cent in October.

The average property price in England came in at just under £300,000 in November and average house prices in London remain the most expensive, at £542,000 said the ONS. The average sold price for a property in Chiswick in the last 12 months is £1,137,96, according to Zoopla.

When it comes to desirability, London’s 'most up-and-coming neighbourhoods' have seen house price increases of up to 64.5% over the last year, according to research by Benham & Reeves. Results suggest that this momentum is being led by a select group of neighbourhoods that are proving popular among buyers and, as a result, enjoying impressive price growth.

UP AND COMING AREAS

•  Nowhere in London have prices increased more than in the neighbourhood of Churchill in Westminster, the study found. Here, house prices grew by 64.5% (£392,250) in the past year to sit at a current average of £1m.

•  In the Wandsworth neighbourhood of Northcote, which connects the north side of Clapham Common with Wandsworth Common, buyers have pushed house prices up by 61.4% (£505,500) to an average of £1.3m.

•  The Wembley Central neighbourhood of Brent has seen prices rise by 51.4% (£190,000), while the average price in the Hammersmith & Fulham neighbourhood of Parsons Green & Walham has increased by 51.3% (£610,000) in the past year.

•  Impressive house price growth has also been recorded in Merton’s Village neighbourhood (49.3%), Westminster’s Lancaster Gate (49.2%), Merton’s Merton Park (44.1%), Hackney’s Stamford Hill West (42.4%), Merton’s Wimbledon Park (39.1%), and the St Katharine’s & Wapping neighbourhood in Tower Hamlets (39.1%).

TRENDS & DIVERSITY

Marc von Grundherr, director of Benham & Reeves, commented: “The diversity of the London market makes it a fascinating one as there’s no real London house price, with property values and performance differing drastically from one neighbourhood to the next, depending on where has and hasn’t fallen out of fashion.

"As a result, there are many pockets of the London property market that have enjoyed some quite remarkable house price growth of late and they aren’t confined to any one corner of the capital.”

Affordability is still a top priority for buyers. Regardless of location, if sellers are realistic with their pricing, there are plenty of serious buyers able to move quickly.