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House prices in London racing ahead

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House prices in London increased up to 32 per cent last year – leaving the rest of the country far behind in its wake.

house sale signEvery area of the country where property prices increased by over 20 per cent were in the capital, while areas in the north saw homes fall by almost a quarter in value.

The figures, released by the Office for National Statistics today, sparked accusations that Britain was turning into a ‘two tier’ country.

Walthamstow in north east London enjoyed the highest house price growth in the country last year, with homes jumping by 32 per cent reported Daily Mail.

The average home in the constituency, represented by Labour’s Stella Creasy, was worth £250,000 in 2013. But by last year, the typical property was valued £80,000 higher at £330,000.

Nearby Leyton and Wanstead saw properties jump 25 per cent in value.

Hammersmith, in the west of the capital, also enjoyed a house price boom – with the average property jumping more than £100,000 in price. Homes in the constituency rose 25 per cent from £456,000 to £570,000 on average.

Dulwich, Westminster, Tottenham, Lewisham, Chelsea and Islington – representing constituencies across the capital – make up the top 10 constituencies for house price growth.