Average Value Of London Property Still Rising
12th February 2021 posted in Sellers Buyers
Even with 2021 starting with another lockdown period, the London housing market looks as though it is in full flow. Information provided by Zoopla and Rightmove offer plenty of evidence that the market is thriving, and that there is considerable interest in the area.
In information provided by Zoopla, the current average value of a property in the capital stands at £660,754, which is 4.1% higher than this time last year.
When it comes to the London housing market, there are many different areas. You’ll find parts of the capital where the average price of property is more than one million pounds. There are also parts such as Barking or Dagenham where the average price of property is between £300,000 and £350,000.
There are London property options available for everyone
No matter what your budget is, it is likely there will be something which is suitable for you.
At the end of January 2021, Rightmove says this about the West Hampstead housing market:
“Properties in West Hampstead had an overall average price of £881,706 over the last year.
The majority of sales in West Hampstead during the last year were flats, selling for an average price of £741,213. Terraced properties sold for an average of £1,347,707, with semi-detached properties fetching £2,181,500.
Overall, sold prices in West Hampstead over the last year were 14% up on the previous year and 8% up on the 2018 peak of £817,844.”
As you’ll see, the average price paid for property in West Hampstead is at the higher end of the London housing market, but it is less than the highest priced areas.
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For Cricklewood, Rightmove said towards the end of January 2021;
“Properties in Cricklewood had an overall average price of £704,750 over the last year.
The majority of sales in Cricklewood during the last year were flats, selling for an average price of £509,567. Terraced properties sold for an average of £659,114, with semi-detached properties fetching £1,172,033.
Overall, sold prices in Cricklewood over the last year were 12% up on the previous year and 1% up on the 2016 peak of £694,474.”
The prices in Cricklewood are more affordable than West Hampstead, but there is still a high standard of property on offer.
For the London Borough of Camden, Rightmove said as of the end of January 2021;
“Last year most property sales in Camden involved flats which sold for on average £855,732. Terraced properties sold for an average price of £1,813,305, while semi-detached properties fetched £3,065,262. The priciest area within Camden was High Holborn (£2,079,627) and the least expensive was Gospel Oak (£576,762).
During the last year, sold prices in Camden were similar to the previous year and similar to 2018 when the average house price was £1,127,307.”
If you need any help or guidance regarding property matters, please get in touch. As your local housing market specialists, we will do what we can to ensure you make your next house move in style. Contact Hunters West Hampstead today for all your housing and letting needs.