Flats in Wimbledon Village sell for £140,673 more than the average value of a residential property in the whole of London, according to the Land Registry’s house price index.

Figures released by the Land Registry reveal annual property price growth in London of 13.9%. A home in the capital now costs an average of £530,409, compared with just £191,812 in the rest of England and Wales.

Property values in Wimbledon grew by 1.3% in 2015, but this compares well to Knightsbridge, where values slipped 6.1%, and Chelsea, where the value of a home fell 2.1%.

The majority of sales in Wimbledon Village in the past year were flats, which sold for an average price of £671,082.

Elsewhere in the UK, property prices in south-west England rose 6.2% over 2015 to take the average price of a home there to £220,532 – £46,071 less than homes in south-east England, which rose in value by 10.7%.

In north-east England property prices inched up just 0.2% in 2015, while prices in the north west grew by 2.1% to £114,504.

However, the chief executive of a property finance firm warns the UK’s possible exit from the European Union could affect property prices in prime areas such as Wimbledon Village.

Writing in City AM, Oblix Capital’s Rishi Patel says no one knows for sure how a Brexit would affect the UK economy.

In the shorter term, he says the uncertainty as to which way the British public will vote in the referendum is most likely to cause investment levels in property “to come off the boil”.

If the UK does leave the EU, property values in prime areas of the capital will be hit the hardest in the short term, but the rest of the UK would feel the pain too.

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About the author

Nicolas Holmes

Nick joined Robert Holmes to inject fresh ideas and help grow the New Homes department of Robert Holmes as well as helping to inject technology into the business and to grow its client base. Together with one of the Directors Nick is in charge of all Development opportunities that Robert Holmes deals with along with sales. Aged 40, he provides succession together with the two existing directors. Nick has always been focused on building client relationships and sales. He built up his own gallery in Chelsea, where he had a loyal following of customers and artists.

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