According to a new report, Islington is one of the only local authorities in the UK to have experienced positive annual house price growth
The average house price in Islington has increased by 0.5% from June last year to £418,999, making the borough one of only seven which has shown positive growth in the past twelve months, says a new report from Chesterton Humberts. House prices there are also some of the most expensive in the UK – fourth most expensive in London after Kensington and Chelsea, Westminster and Camden.
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Top prices are reportedly close to those seen in 2007 in Islington, where supply is well outstripped by demand, the report states. Graham Stubbs from Chesterton Humberts says: ‘In January everyone was looking for a bargain; by February/March the bargains weren’t there but as long as buyers got a deal they were happy.’
Islington is also known from being one of the first boroughs to benefit from upturns in the City considering its proximity to that area of the Capital, the report points out.