Latest prices in Outer London for Detached properties
The latest figures show that the average price for a Detached property in Outer London has now reached £1,007,578 as of Jul 2024. This value is based upon the average value of completed property transactions in the month of July.
Average prices for a Detached property have increased substantially over the longer term in Outer London. Back in January 1995, prices for this type of property averaged £160,330 based on sales at the time. Fast forward to January 2024, and averages reached £994,751 - representing a growth of 520% over 29 years.
This substantial triple-digit percentage rise in Detached property values far outpaced broader inflation over the same period. Rising household incomes, strong local economy, high demand and constrained supply all likely contributed to the steep price inflation seen for Detached homes in Outer London over the past 3 decades.
Our data is sourced directly from HM Land Registry and their UK House Price Index report. This dataset is updated several times a year and we always attempt to have the most up to data information available.
The UK HPI uses sales data collected on residential housing transactions, whether for cash or with a mortgage. Properties have been included in England and Wales since January 1995, in Scotland since January 2004, and in Northern Ireland since January 2005, Data is available at a national and regional level, as well as counties, local authorities and London boroughs.
Detached prices in Outer London over the last 12 months
Date
Price
Aug 2023
£1,047,952
Sep 2023
£1,050,660
Oct 2023
£1,044,578
Nov 2023
£1,020,329
Dec 2023
£1,005,052
Jan 2024
£994,751
Feb 2024
£987,711
Mar 2024
£979,552
Apr 2024
£978,934
May 2024
£987,835
Jun 2024
£998,010
Jul 2024
£1,007,578
Recent trends for prices in Outer London
The latest figures from July 2024 indicate the property market in Outer London continues to show rising price trends. Compared to June, 2024, average prices increased by 0.8% to £482,323. On an annual basis, average property prices have increased 1.5% since 12 months ago.
In terms of sales activity, there were 1985 residential property transactions completed in Outer London during July, 2024. Of these purchases, 1299 were financed with a mortgage while 269 were all-cash sales. For cash buyers, average prices have changed by 0.9% since June, 2024, coming in at around £471,582. For properties purchased with a mortgage, the average price changed by 0.8% since June, 2024, to £484,850.
Compared to the overall picture in its national parent England, the average property price in Outer London are higher than the current national average of £305,879. While Outer London saw a change of 0.8% over the last month, England as a whole recorded a percentage change of 0.2% in average property values. And on an annual basis, prices across England have grown by 1.6%, more than the 1.5% yearly change seen in Outer London.
Interested in purchasing a property in Outer London? Use our Monthly Mortgage Cost Calculator to see how much a property may cost you per month. This tool is for illustrative purposes only and does not constitute financial advice.
Average price in Outer London by housing type
Prices last recorded in July, 2024
average
£482,323
detached
£1,007,578
flat
£347,022
semi-detached
£649,281
terraced
£505,499
Prices by housing type in Outer London
Recent data shows that price growth has varied across different property types in Outer London over the last year. For terraced houses, property prices changed by 0.9% between July 2024 and June 2024 to reach £505,499, and changed by 2% over the last 12 months. The annual change was less than the 1.8% change seen for terraced homes in England overall.
Meanwhile, semi-detached properties saw a rise in average prices locally, taking them to £649,281 in June 2024. This represents a 0.6% change from the same month last year.This is underperforming the 2.2% annual change in semi-detached values across the country.
Detached homes in Outer London gained 1% month-over-month to reach an average of £1,007,578. Annually, detached property values have changed by -0.6%. This is weaker price growth compared to England's 1.6% change for detached houses over the year.
For apartments and flats, average prices increased by 0.9% between July and June 2024, hitting £347,022. Over the last 12 months, apartment values have changed by 1.6%, surpassing England's flat and apartment growth rate of 0.4%.
Overall, terraced properties have seen the strongest price momentum locally over the past year, with a change of 2%, while detached properties lagged, with a change of -0.6%.
Recent purchases in Outer London
According to data from HM Land Registry, there were 1985 completed property purchases in the area of Outer London in July 2024. Of these sales, 269 were recorded as cash purchases whilst 1299 were purchased using a mortgage. Compared to this time 12 months ago, the percentage of properties purchased using a mortgage has changed by 1.5% and the percentage of properties purchased with cash has changed by 1.2%.
The number of cash and mortgage purchases may not match the recorded number due to exclusions listed on the gov.uk website
Looking for a specific property type?
Use one of the following links to find more specific information about the type of property you're looking for in outer-london.
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