The average property value in Tower Hamlets is £585,457 according to property sale data for the year ending June 2021 published by HM Land Registry. Between the years ending June 2020 and June 2021, property values in Tower Hamlets grew by £18,227. Compare house prices by area
Average property prices in Tower Hamlets grew by 3.2% between the years ending June 2020 and June 2021. Between the years ending June 2011 and June 2021, property prices on average grew by 5.4% per year.
If prices in Tower Hamlets continue to rise by 5.4% a year, the average property price will be £722,312 in 2025.
There were 2,484 property sales in Tower Hamlets in the year ending June 2021, a decrease of 497 when compared to the previous year.
The average price for a flat or maisonette in Tower Hamlets is £549,345.
Price trends for small areas may be less statistically significant due to small sample sizes.
Of the property types in Tower Hamlets, semi-detached house prices have risen the most between the years ending 2011 and 2021, and flat prices have grown the least.
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The most common type of property sold in Tower Hamlets during the year ending June 2021 was flats, which accounted for 88.8% of properties.
The least commonly available type of property sold in Tower Hamlets were detached houses, which account for 0.0% of properties sold.
Of the properties sold in Tower Hamlets during 2021, 18.1% were new build properties.
The average price paid for a new build property in Tower Hamlets was £164,617 higher than the average price paid for an existing property.
Of the new build properties sold, the most common type was flats (100% of new build properties sold). For existing properties, the most common type is flats (85% of existing properties sold).
The most common price band for property sales in Tower Hamlets is £400k - £500k, which accounted for 14.3% of properties sold in 2021.
5.0% of properties in Tower Hamlets had a price over £1 million. For comparison, in England, 2.1% of property sales were priced at over £1 million.
The cheapest properties in Tower Hamlets were in the £50k - £100k price bracket, accounting for 0.2% of sales.
Average property price
YoY change in price
Average Property Price
YoY CHANGE in PRICE
Source: Office for National Statistics licensed under the Open Government Licence v.3.0. Contains OS data © Crown copyright and database right 2021. Data sources: ONS Local statistics