Redbridge saw an increase in house prices of 0.5 per cent in just one month, new figures have revealed.

According to figures by The Land Registry, the average house price in the borough for June was £452,547, a 0.5 per cent increase on May.

Over the month, the picture was less good than that across London, where prices increased 2.5%, and Redbridge underperformed compared to the 4.5 per cent rise for the UK as a whole.

During the last year, the average sale price of property in the borough rose by £39,000 – putting the area fifth among London’s 33 local authorities for annual growth - the new figures show.

Owners of terraced houses saw the biggest improvement in property prices in Redbridge in June – they increased 0.7 per cent, to £484,995 on average. Over the last year, prices rose by 10.6 per cent.

Among other types of property in Redbridge which saw the increase include: detached homes, up 0.2 per cent monthly; up 10 per cent annually; £961,781 average, semi-detached: up 0.3 per cent monthly; up 9.6 per cent annually; £626,404 average and flats prices also rose by 0.4 per cent monthly; up 7.3 per cent annually; £307,898 average