Buying or selling houses in London’s boroughs has been quite challenging in recent years due to frequent home price fluctuations. However, Nick Millican, an experienced real estate agent, has been instrumental in helping his clients find quality properties in good neighborhoods at reasonable prices. 

Nick Millican has also been successful in finding fair prices for clients who want to sell their properties. This has earned him an excellent track record of successful transactions despite the harsh market conditions.

The Real Estate Situation in London’s Boroughs

The prices of houses in London have been decreasing consistently in recent years. For instance, Nick Millican informs, in 2023, there was a decline of about 4.8%, which translates to a decrease of approximately £32,000 in property value. 

Among the boroughs that experienced the sharpest property price drops were Kensington and Chelsea, which saw a decrease of around £178,902, equivalent to -13.7%. Additionally, Westminster saw a decline of 16.1%, the City of London saw a drop of 17.8%. This, Nick Millican adds, while Hammersmith and Fulham experienced a drop of about 10%.

Of the 32 boroughs, 28 experienced a drop in housing prices, while only four saw an increase. The four boroughs that experienced a rise in housing prices are Richmond upon Thames, Camden, Hackney, and Islington. Richmond upon Thames saw the highest increase of 3%, which amounts to about £21,936. Camden experienced a rise of 1.7%, which is equivalent to about £14,804. In addition, Nick Millican finally adds, Hackney saw an increase of 0.4%, which is equivalent to about £2,284, while Islington experienced a rise of 0.1%, which is about £831.