The new data of the National Statistics Office (Eases) have revealed the levels of affordability of housing in local authorities throughout England and Wales.
The data revealed what the average housing prices were every year since 1997 and, in southern London, housing prices have shot over the years.
In 1997, Richmond housing prices were higher than in any other municipality in southern London, with an average of £ 88,000.
Lewisham was the municipality with the lowest average, with houses that sewed £ 46,950.
We have created a graph that shows how prices in Bexley, Bromley, Croydon, Greenwich, Kingston, Lambeth, Lewisham, Merton, Richmond, Southwark, Sutton and Wandsworthy changed since 1997.
Until 2000, Richmond and Lewisham remained the districts with the highest and lowest average prices in the house, respectively.
At the beginning of the millennium, the houses in Richmond cost an average of £ 150,000, while Lewisham’s houses cost an average of £ 72,500.
In 2001, Richmond remained at the top with an average of £ 165,000, but the prices in Lewisham Rose and Bexley became the southern district of London with the lowest average, with prices of around £ 84000.
For 2005, Bexley and Lewisham had the same average price of the housing of £ 150,000.
For 2008, Richmond Homes had an average of £ 285,750, and Bexley Homes had an average of £ 172,650.
After the financial crisis of 2008, the averages in each southern district of London decreased.
This may be due to the recession, cause losses of jobs, stricter mortgage loans and a reduction in buyer’s confidence.
With fewer people capable of ensuring mortgages and some owners forced to sell, the demand fell while the supply increased, which increases prices.
Then, for 2009, Richmond prices fell to £ 250,000, only £ 50 more than the average price in Woodsworth.
In 2013, Woodworth beat Richmond, with houses in the first one that has an average price of £ 322,500 and the letter has an average price of £ 320,000.
Wandworth remained the southern London district with the highest average price of affordable homes until 2019, when the Richmond price reached £ 450,000, and the Woodsworth price stood at £ 439,250.
This lasted only one year, Axle in 2020, Wandworth saw a significant jump to £ 475,000.
This may have been promoted by factors such as the impact of Covid-19 pandemic, which led to changes in buyer’s priorities, since many sought more space and suburban areas for remote work.
Meanwhile, Bexley still had the lowest average price, with £ 295,000 in 2020.
In 2021, Richmond’s price reached £ 481,250, and Wandworth fell to £ 475,000.
Since 2021, Richmond has had the highest average price.
In 2024, the houses in Richmond had an average price of £ 500,000.
Croydon had the lowest average price, with affordable homes at £ 307,500.
Nathan Emerson, CEO of Propertymark, a leading professional body for real estate agents, said: “These figures suggest that housing continues to play a vital role in the United Kingdom economy and that an elevation in housing activity can help generate greater economic growth.
“With the draft planning and infrastructure law that is directed through Parliament, this should be the path for 1.5 million new homes in England and Wales before the next general elections and must contribute positively to the levels of supply and demand and demand levels and demand levels and demand levels and demand levels and demand levels and demand and demand levels and demand levels and demand levels and demand levels and demand levels and demand levels and demand levels and demand levels and demand levels and demand levels and demand levels and demand levels and demand levels and demand levels and demand levels and levels of demand and demand levels and levels of demand and levels of demand and levels of demand and levels of demand and levels of demand and levels of demand and levels of demand and levels of demand and levels of demand and levels of demand and levels of demand and levels of demand and levels of demand and levels of demand and levels of demand and levels of demand and levels of demand and levels of demand and levels Demand and demand levels demand levels and demand levels of demand levels and demand levels of demand levels and demand levels of demand levels and demand levels of demand levels and demand levels of demand levels and demand levels of demand.
“Although the latest money and credit report of the Bank of England suggested that net mortgage approvals for housing purchase slightly decreased at the beginning of this year, there is currently a strong appetite to borrow so that the new potterstial home.
“The same suggested report that general net loans increased by £ 0.9 billion.
“Today’s news should offer a sense of trust for those who consider Ether to take their first or next step on the housing scale.”
