House prices fell in Islington in last year, study shows
- Credit: PA
Islington was one of only five places in the UK to see house prices fall in 2021, according to a study by Halifax.
The data released today (December 30) showed that Taunton in Somerset was the house price ‘hotspot’ of the year - with prices rising 21 per cent in the past 12 months on average.
But Islington was seen not just to be a ‘coldspot’ - where local price growth has slowed - but one of only a handful where an average property is worth less than in 2021.
An average house price in the borough is now £716,554, which is £11,368 less than in 2020 which represents a 1.6 per cent drop in price.
Russell Galley, managing director of Halifax, said: “It is rare that no London boroughs appear amongst the areas of highest house price growth but that is the case in 2021.
“This shift echoes what we have seen from home-buyers over the last year – less focus on major cities and more demand in the suburbs and further afield.”
Islington was fifth on the ‘coldspot’ list, with Westminster taking top spot after seeing house prices fall by an average £54,809 - a 6.9 per cent drop.
- 1 Screen on the Green: Dive into 1940s America this weekend
- 2 Former Met cop faces trial with seven others over alleged bribery plot
- 3 Gun found in car as Met makes 130 arrests during drugs op
- 4 Replacement Finsbury Park leisure centre a step closer
- 5 'Graffiti vandal' linked with £500k worth of damage caught in Highbury
- 6 Incinerator protest group WhatsApp infiltrated by waste authority member
- 7 Covid patient numbers levelling out after Christmas rise, data suggests
- 8 Islington: Cycle track could be back if funding found
- 9 Deadline extended for Islington's greener futures fund
- 10 'Yes, the government really is waging a "war" against the BBC'
Additional reporting by Vicky Shaw, PA Personal Finance Correspondent.