Westminster and Lewisham which will both experience growth of prices of more than four percent. With Hackney are expected to grow more than five percent in the years to 2020.
With Richmond Upon Thames will experience the lowest growth, with prices rising around 1.5 percent. That’s followed by Harrow and Hounslow, where prices will rise around two percent.
The forecast, by KPMG, follows figures published by Savills yesterday which suggested having fallen this year, London house prices will not begin to rise until 2020. The figures suggested prices will fall two percent next year and remain flat in 2019, before rising five percent in 2020.
KPMG said it expected the UK’s economy to remain relatively lackluster, weighing on local demand in London in the medium term.
“On the whole, our projections for the London housing market see a continued cooling in the short term, followed by a gradual rebound in the medium term, which will allow the cumulative price growth to remain positive over the forecast horizon overall.
“However, annual growth rates are not expected to revert to the above-five percent figures seen before 2017 in most boroughs during the period.”
|Borough||House price growth up to 2020|
|City of London||3.36%|
|Barking and Dagenham||3.23%|
|Hammersmith and Fulham||2.84%|
|Kensington & Chelsea||2.79%|
|Kingston upon Thames||2.46%|
|Richmond upon Thames||1.65%|