House prices in Merton have plummeted by an average of over £8,000 in the month of January, according to figures from the Land Registry.
The latest data from the government department reveals that in January 2023 average house prices in Merton reached £573,718.
This was down from £582,000 in December, representing a 1.4 per cent decrease. In the last 12 months it has risen by 2.6 per cent.
If you are interested in buying or renting a home, you can see the latest properties in and around Merton here.
How much have house prices decreased in Merton?
Breaking it down for specific types of housing, all prices saw a decrease.
- Detached houses - Down to £1,728,607 from £1,744,937 in December
- Semi-detached houses - Down to £913,411 from £923,734 in December
- Terraced houses - Down to £631,734 from £641,519 in December
- Flats - Down to £402,160 from £408,084 in December
How do Merton house prices compare to the UK average?
Despite the fall in prices this month, Merton is still far above the UK average with a typical property value in the nations reaching £289,818 in January.
In cash terms, the average house price in January was £17,080 higher than a year earlier with house price growth accelerating to 6.3 per cent in January 2023. Prices were down by -1.1 per cent month on month.
How much could your house be worth?
We have created this map for the London so you can see the average house price in each neighbourhood since 1995.
Sites like Zoopla can offer an estimate valuation of your house if you input your postcode into their website here.
The above map can demonstrate which areas of Merton are the most expensive for average house prices.
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