Property prices in suburban south London are growing at a faster rate than those in Mayfair or Kensington, a study has revealed.
The research, published by Hometrack, shows that Walthamstow and Clapton have seen the strongest gains, with average prices up 133 per cent since 2009.
But Peckham, now attracting a huge gathering of students and young families, saw gains of almost 130 per cent.
Mayfair, in comparison, saw gains of just 88 per cent, despite five years of considerable growth between 2010 and 2015.
Fulham, west London, saw gains of 87.5 per cent, and Hampstead, a rural city village home to Hampstead Heath, saw gains of just under 87 per cent.
Becky Munday, managing director of Peckham-based estate agents Munday’s, said the opening of the South London Line extension in 2012, plus multiple rejuvenation projects, had added to Peckham’s appeal.
She said a four-bedroom terrace could now cost a “crazy” £1.2 million.
Richard Donnell, insight director at Hometrack, said: “House price growth is now slowing rapidly across London.
“The annual rate of growth is currently eight per cent year-on-year in the lowest value markets, while prices are falling by five per cent year on year in the most expensive markets.”