Latest figures published by the Land Registry show that house prices across the borough of Greenwich recorded a 2% increase in July.

But even with this small increase, houses prices in Greenwich were, on average, 13% down on a year ago.

It was a different story in neighbouring Lewisham where home prices were down 2.2% in July. Across the river in Tower Hamlets, they had the biggest increase of any London borough with a movement of +3.1%.

Across London as a whole, there was an average increase of 1.6%, which was almost mirrored across the whole of England and Wales where there was an average increase of 1.7%.

Land Registry figures released today show that house prices in the borough of Greenwich have continued to fall, despite an average increase for London as a whole during June.

Greenwich house prices saw a change last month of -1.2% with the average price of a home in Greenwich now standing at £236,417 – that’s down 15.9% on a year ago.

But there may be signs that the market is beginning to bottom out with prices in nearby Lewisham increasing by 0.5% and house prices across London as a whole rising by 2.0%.

Jason Lamb from King Sturge in College Approach told Greenwich.co.uk “We are finding that activity has significantly improved, and we think that this is largely due to increased mortgage availability. In addition, there is a feeling amongst the buyers that house prices have reached their floor… The main problem that we now face, though, is a lack of stock rather than a lack of buyers! High demand and low supply will, in my view, continue to dominate in the Greenwich area for some time, and this will hopefully curtail any further house price depreciation.”

Are you trying to move home in Greenwich at the moment? What are your experiences of the local housing market?

See also: Estate agents in Greenwich