Close

Important Notice

Thank you for visiting the Lansdown website. Our staff are working remotely but are still able to deal with your enquiries in a timely manner.

Please contact us initially by email on enquiries@lansdowninsurance.com or alternatively on 01242 524498.

Thank you for your understanding.

We appreciate these are difficult times, if you’re an existing customer experiencing financial difficulty as a result of Covid-19, please contact us to discuss your payment options.

Call us on: 01242 524498

Call us on: 01242 524498

Analysis of the latest HM Registry UK House Price Index data by our specialist flat insurance team has found that the average price paid for flats in London in February saw the largest monthly increase since April 2002.

The average price of a flat in London reached a new all-time high of £450,576 in February, compared to £433,948 in January – a 3.8% increase. This is a 7.9% year-on-year increase on the February 2021 average. The previous peak average price of a flat in London was £434,977 in November 2021.

average london flat prices graph

 

Average price of a flat in London has never been so high

Responding to the latest data, Darren Bee, Associate Director of Lansdown Insurance Brokers said: “The average price of a flat in London has never been so high. London flat prices were relatively stagnant for much of 2021 but this latest data shows that demand is now returning strongly. However, with the cost of living crisis starting to bite and some mortgage lenders starting to tighten affordability criteria these levels of growth may well start to slow down over the next few months.”

“The growth in average prices isn’t limited to the capital either, elsewhere across the UK, average flat prices increased by 8.1% year-on-year and Wales saw a new all-time high average price of £133,301.”

 

UK flat prices graph

About Lansdown

Lansdown Insurance Brokers are specialists in Block of flats insurance, Landlord insurance and Business insurance. We are able to provide flexible policies to suit individual client needs and provide advice on what cover is needed. For more information call the team on 01242 524498.

"Thank you. You may possibly be the most efficient and polite company I have had to deal with for the last 7 years"