Barking and Dagenham house prices surge by £55k
PUBLISHED: 14:33 17 February 2016 | UPDATED: 14:37 17 February 2016
Property prices in Barking and Dagenham rose faster than anywhere else in London last year, with homes now £55,000 more expensive.
According to new figures from estate agents Rightmove, the average cost of a home was £236,639 in February 2015, but the mean now stands at £291,638 – an increase of 23.2 per cent.
Although that amount is still the cheapest in the capital, Barking and Dagenham is one of 23 boroughs to experience similar surges with many owners putting homes on the market before the spring sales rush.
In Newham, prices rose by 17.1pc to £396,582 while in Redbridge the average house now costs £440,222 after increasing by 13.2pc over the last 12 months.
The latest price hikes follow the recent extension of the Government’s ‘Help to Buy London’ scheme, which aims to help cash-strapped buyers onto the property ladder.
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