Interesting research from Housesimple.com in which they commented…
In London, the five areas which voted to leave the EU are among the London areas with the lowest property price increases in the past five years, with increases of 30% in Havering and Bexley, 34% in Sutton, 35% in Hillingdon and 37% in Barking and Dagenham – compared to the 41% London average.
Looking back at April 2011 the average Hillingdon property price according to the Land Registry was £251,265 and at April 2016 this figure stood at £395,562, an increase of 57%.
At this time the average London price was £293,993 and is now £470,025. During this time that is an increase of 60%.
The percentage differences are actually not that far apart but this certainly looks like the data has been taken from slightly times than my data. Happy to forgive Housesimple.com for that.
However as residents of Hillingdon are well aware recently Hillingdon prices have been far from sluggish, having increased by 16.4% in the last year and 50.4% in the last three. London prices increased by 14.5% in the last year and 46.5% over the three. So an out performance in recent memory for Hillingdon.
Whilst house prices are a reflection of consumer confidence and expected prosperity in an area I don’t think in Hillingdon’s case there is a reason to correlate poor house price growth and a ‘Leave’ vote.
A stronger correlation might be formed in the average age of the boroughs population and a prominent Leave campaigning MP in Boris Johnson.
From Property Industry Eye : Areas with highest Leave votes have had lowest house price growth
