You won’t believe which London borough’s house prices are soaring fastest

With all the fuss around the so called “gentrification” of areas like Hackney and Brixton, you could be forgiven for thinking that these places might be the contenders to top the table of greatest house price rises over the last 12 months.

But no, the area where houses prices are screaming upwards fastest is actually north east London’s Waltham Forest.

Since June 2013, prices have soared by an incredible 28.1%, according to the Land Registry. This is a huge rise, particularly given that the rise the year before was a mere 4.6%.

Hackney is still in the top 10 though, while Lambeth, which is the borough containing Brixton, Camberwell and Streatham, is at number three on the list.

Meanwhile, annual growth in Tower Hamlets in east London was up by 17.9%, placing it at number two, and Newham, also in east London and home to the new Olympic Park, saw prices climb by 15.1%.

The study by estate agents Savills shows that prices in central parts of London are beginning to level off. Savills residential research department associate Sophie Chick said: “The locations at the top of the table are those which have really started to take off in the last year.

“They are mainly London’s lower-value locations and it’s probably a ripple effect out of more expensive areas.”

Here are the top 10 areas where prices have risen fastest:

1. Waltham Forest

Yearly growth to June 2014: 28.1%
Yearly growth to June 2013: 4.6%
Difference in growth: 23.4%

2. Tower Hamlets:

Yearly growth to June 2014: 20.9%
Yearly growth to June 2013: 3.0%
Difference in growth: 17.9%

3. Lambeth

Yearly growth to June 2014: 26.8%
Yearly growth to June 2013: 9.8%
Difference in growth: 17.0%

4. Lewisham

Yearly growth to June 2014: 22.0%
Yearly growth to June 2013: 6.3%
Difference in growth: 15.6%

5. Newham

Yearly growth to June 2014: 15.8%
Yearly growth to June 2013: 0.7%
Difference in growth: 15.1%

6. Southwark

Yearly growth to June 2014: 23.0%
Yearly growth to June 2013: 8.5%
Difference in growth: 14.5%

7. Haringey

Yearly growth to June 2014: 21.8%
Yearly growth to June 2013: 7.5%
Difference in growth: 14.3%

8. Ealing

Yearly growth to June 2014: 18.3%
Yearly growth to June 2013: 4.1%
Difference in growth: 14.2%

9. Hackney

Yearly growth to June 2014: 25.5%
Yearly growth to June 2013: 12.1%
Difference in growth: 13.5%

10. Croydon

Yearly growth to June 2014: 15.3%
Yearly growth to June 2013: 2.6%
Difference in growth: 12.7%

Source: Savills

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