House prices nosedive in central London - what's happening in your area?

House prices have plunged in central London by a startling 23% on average in a year, according to official figures.Some boroughs are still seeing modest rises.So, it is a very mixed picture across the city.People trying to get onto the property ladder and out of renting, or to move to a bigger home, are likely to welcome the drop in prices as they may need a smaller mortgage.But for existing homeowners it could be a blow if their main asset falls in value, potentially threatening them with negative equity. House prices have been falling in London for nine months in a row, according to the ONSPA ArchiveThe second biggest percentage fall was in Tower Hamlets, down 14.5%, or £76,000 over 12 months.In Kensington and Chelsea, £150,000 has been wiped off the average house price, down 10.7%, though it still stands at £1,256,000.In Hammersmith and Fulham, prices are down 10.9%, or £89,000.Camden, Islington and Wandsworth have all seen drops of over 6%, or £53,000, £46,000 and £42,000 respectively.House prices have fallen by more than 6% in Camden in a yearAFP via Getty ImagesThe capital’s property market could be further hit if Prime Minister Andy Burnham presses ahead with a new homes levy to replace council tax and stamp duty, which he has previously backed.BoroughAverage house price May 2026% change in year to May 2026£ change in year to May 2026Barking and Dagenham£361,000Little changeLittle changeBarnet£591,000-4.3-26,000Bexley£409,000+2.2+9,000Brent£549,000-3.3-19,000Bromley£525,000Little changeLittle changeCamden£806,000-6.2-53,000Croydon£397,000Little changeLittle changeEaling£569,000-2.5-15,000Enfield£469,000Little changeLittle changeGreenwich£463,000Little changeLittle changeHackney£608,000Little changeLittle changeHammersmith & Fulham£729,000-10.9-89,000Haringey£634,000+2.4+15,000Harrow£530,000Little changeLittle changeHavering£453,000+2.8+13,000Hillingdon£468,000Little changeLittle changeHounslow£501,000-2.4-13,000Islington£670,000-6.4-46,000Kensington & Chelsea£1,256,000-10.7-150,000Kingston£582,000Little changeLittle changeLambeth£545,000-2.9-16,000Lewisham£497,000+2.3+11,000Merton£597,000-1.3-8,000Newham£405,000-1.4-6,000Redbridge£496,000+2.4+12,000Richmond£789,000-2.5-20,000Southwark£579,000Little changeLittle changeSutton£445,000Little changeLittle changeTower Hamlets£444,000-14.5-76,000Waltham Forest£524,000+3.1+15,000Wandsworth£660,000-6.1-42,000Westminster£836,000-22.8-247,000Source: ONSThe biggest percentage increase was in Waltham Forest, up 3.1%, or £15,000.There were rises of more than 2% in Bexley (£9,000), Haringey (£15,000), Havering (£13,000), Lewisham (£11,000) and Redbridge (£12,000).