Lambeth House Prices Fall £18,991 in a Year to £548,034

The average home in Lambeth sold for £548,034 in June, down £18,991 on June last year. That is a fall of 3.3%, and it is a good deal worse than London as a whole, where prices fell 2.5%, or England, where they rose 1.8% (HM Land Registry UK House Price Index).

Set against every other London borough, Lambeth comes 24th of 33 for annual change. Set against all 295 local authority districts in England, it is 278th, which makes it the 18th steepest fall in the country. Only 62 English districts fell at all in the year to June. Lambeth was one of them.

The borough is also, for the third month running, cheaper than the London average. Lambeth sat £5,836 below London in June, having been £9,753 above it as recently as August last year.

Lambeth against its neighbours

The most useful comparison is with the boroughs over the boundary, because they share the same transport, the same schools and much of the same housing stock. They did not share the same year.

Southwark and Lambeth are the clearest contrast. The two boroughs adjoin each other for the length of Herne Hill and Kennington, and their averages were within £15,000 of each other a year ago. Southwark’s rose 2.2% and Lambeth’s fell 3.3%, so the gap is now £34,439.

At the top of the London table, Barking and Dagenham rose 4.3%, followed by Havering at 3.9% and Redbridge at 3.6%. All three are outer boroughs and all three are cheaper than Lambeth by £75,000 or more. At the bottom, Westminster’s 25.4% fall and Kensington and Chelsea’s 14.7% are the prime central market correcting, not an ordinary housing market.

Nineteen of the 33 boroughs fell.

Flats did most of the damage

Lambeth is a borough of flats, and the flat is the number that matters here.

The average Lambeth flat sold for £449,493, down 3.8%. Detached homes fell furthest at 4.0%, but there are very few of them in the borough and the index for them moves on a handful of sales. Terraced houses held up best, down 1.8% to £809,652, and semi-detached homes fell 2.4% to £1,044,548.

First-time buyers paid an average of £481,859, down 3.4% on a year earlier. That is roughly £17,000 less than the same buyer would have paid in June 2025, which is real money, though it is set against mortgage rates and deposits that have not moved in step.

One number to treat carefully

The UK House Price Index average is a mean, not a median. It is pulled upward by the small number of very expensive sales in a borough that contains both Streatham Vale and the riverside at Albert Embankment. The middle sale in Lambeth is a good deal lower than £548,034. Our Clapham house prices page sets out the medians area by area from the individual sale records, and it is the better guide if you want to know what a normal home costs on a normal street.

Two further caveats belong on any month of this index:

• The latest month is provisional. May was first published at £545,315, a fall of 2.9%. This month’s file revises it to £546,709, a fall of 2.6%. Revisions of a few thousand pounds are routine, and June’s figure will move too.
• Sales volumes lag the prices by about three months. The most recent publishable count for Lambeth is April 2026, at 155 sales.

Those sales counts also carry a distortion worth naming rather than reading through. Lambeth recorded 794 sales in March 2025 and 96 in April 2025, on either side of the stamp duty threshold change on 1 April 2025. The equivalent months this year were 188 and 155. Comparing 2026 against a 2025 that had been bent that far out of shape tells you very little.

The longer view

Lambeth’s average peaked at £607,388 in October 2022. June’s £548,034 is £59,354 below that, a fall of 9.8% over three years and eight months, before inflation is taken into account.

That is the context the annual figure sits in. This is not a sudden drop. It is the fourth year of a market that has been drifting down from a 2022 high while the rest of England has recovered past it.

What it means for you

If you are selling, the borough average has fallen for most of the past year, and your buyer will know it. The type of property matters more than the headline: a terraced house has held its value far better than a flat, and the flat market is where the 3.8% fall bites.

If you are buying, £18,991 is a genuine saving on a year ago, and Lambeth is now cheaper than the London average for the first sustained run since 2025. A first-time buyer is looking at £481,859 on average, though that average conceals a wide spread across the borough.

If you are staying put, none of this matters until you move, and the index is a poor guide to your own street. Land Registry publishes every completed sale with its address a few weeks after it happens, and that record, not the average, is what tells you about your road.

If you are checking your council tax band, the bands are still based on April 1991 values and are not affected by any of this. A falling market does not cut your bill and a rising one does not raise it.

Sources

• HM Land Registry UK House Price Index, Lambeth, June 2026 for the borough average, the annual change, the split by property type, the first-time buyer average and the sales volumes.
• The UK HPI full file for June 2026, the complete dataset behind that index, for the comparison with all 33 London boroughs and all 295 English districts, and for the May 2026 revision.
• The index was published on 19 August 2026 and covers sales completed in June 2026.

Related

• Clapham house prices, area by area: medians for Clapham, Brixton, Streatham, Herne Hill, Kennington and West Norwood from individual sale records.
• Lambeth planning news: the schemes that will add to the borough’s housing supply.
• Lambeth roadworks and travel: what is closed across the borough now.