Housing prices in Bromley

In Bromley:

We regularly revise our house prices estimates. UK-level rent estimates for the latest two months, and all house price data, are provisional and subject to revision.

Figures in this article are not seasonally adjusted.

You may also be interested in our recent analysis of which local areas of England and Wales have been most and least exposed to rising mortgage and rent costs during 2023.

Average house price in Bromley was £505,000 in February 2024

The provisional average house price in Bromley in February 2024 was £505,000. This was in line with the average of £510,000 in February 2023 (revised), a 0.9% change.

Across London, the average house price in February 2024 was £503,000, which was less than a year earlier (£528,000).

Across Great Britain, a home sold for an average of £283,000 in February 2024, which was in line with the February 2023 average of £284,000.

In the year to February 2024, the average price for semi-detached properties and flats in Bromley stayed around the same over the year, while the average price for detached properties decreased by 2.0%.

For each property type, average prices as of February 2024 in Bromley were:

• Detached properties: £1,019,000
• Semi-detached properties: £628,000
• Terraced properties: £462,000
• Flats and maisonettes: £318,000

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Average private rents rose in Bromley

The average monthly private rent in Bromley was £1,510 in March 2024. This was an increase from £1,402 in March 2023, a 7.7% rise.

Across London, the average monthly rent was £2,055, up from £1,848 a year earlier.

Across Great Britain, the average rent price in March 2024 was £1,246, which was up from £1,142 in March 2023.

In Bromley, the average rent for semi-detached properties rose by 7.9%, while for detached properties, it increased by 7.1%.

Average rent for one bed properties rose by 7.9%, while the average for four-or-more bed properties increased by 6.6%.

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First-time buyers in Bromley paid £397,000 on average in February 2024

The provisional average price paid by first-time buyers was £397,000 in February 2024. This was in line with the revised February 2023 average of £400,000.

In comparison, home-movers in Bromley paid an average of £582,000 in February 2024. This was slightly lower than £588,000 a year earlier.

In February 2024, the average price was £575,000 in London and £326,000 in Great Britain.

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Average house price for mortgage buyers stayed level in Bromley

The average price of a home bought with a mortgage in Bromley was £511,000 in February 2024 (provisional). This was in line with an average of £515,000 in February 2023 (revised).

Across London, the average price of a home bought with a mortgage was £498,000, down from £521,000 a year earlier.

Across Great Britain, the average price for buying with a mortage in February 2024 was £292,000, which was in line with an average of £293,000 in February 2023.

For cash buyers in Bromley, the average was £485,000 in February 2024 (provisional), which was down slightly from a revised figure of £493,000 a year earlier.

In February 2024, the average was £515,000 in London and £266,000 in Great Britain.

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More data about Bromley

Explore more local data for Bromley.

More data on the housing market

This article is regularly updated with the most recent rents and house prices information. The full time series for rental prices can be found in our associated data releases. The full time series for house prices can be found in the UK House Price Index reports on gov.uk.

You can also read our most recent Private rent and house prices bulletin.

The methods used to produce the rental prices can be found in the Price Index of Private Rents Quality and Methodology Information. The methods used to produce the house prices can be found in the House Price Index Quality and Methodology Information.

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About this article

The content in this article is generated using semi-automated journalism, based on rules pre-programmed by Office for National Statistics (ONS) staff.

This is a new product in Beta release, intended to improve the accessibility of housing market data at local level. Send us feedback about this page or contact the housing analysis team by emailing hpi@ons.gov.uk.

Articles are not available for Isles of Scilly and City of London, as the survey samples of the resident population are too small.