North London Housing Markets 2021

At the start of a new year, it is helpful to take stock of where you are, and consider what you plan on doing next. While 2020 was a year of challenges, there is a good chance that 2020 will also be an interesting year.

At the start of a new year, it is helpful to take stock of where you are, and consider what you plan on doing next. While 2020 was a year of challenges, there is a good chance that 2021 will also be an interesting year.

The housing market ended the last year in a strong fashion, and some industry experts believe this will continue for a short period.

Rightmove tips house prices to rise further this year

Tim Bannister is the Rightmove’s Director of Property Data, and he said; “Our 2021 forecast of a 4.0 per cent price rise is more conservative than the unsustainable 6.6 per cent national average seen this year. There’s likely to be a lull in quarter two unless the stamp duty holiday is extended, but for many buyers its removal will not be make or break, though may lead them to reduce their offers to a degree to compensate for the higher tax, and indeed many sellers may be prepared to help to mitigate their buyer’s financial loss.”

Tim Bannister continued by saying; “First-time buyers will remain largely exempt, so in most cases will be no worse off. The maximum savings of £2,450 in Wales or £2,100 in Scotland are considerably less decisive than the £15,000 available in England for a house costing £500,000 or more, which does however only apply to a small part of the market.”

If you are looking to make a move soon, you need to know how the market is currently performing. We are more than happy to provide you with a snapshot of how the local market is performing. If you need guidance or assistance, please get in touch.

Hornsey Rise prices rose in 2020

As of the end of December 2020, Rightmove said this about house prices in Hornsey Rise;

“Properties in Hornsey Rise had an overall average price of £663,918 over the last year. The majority of sales in Hornsey Rise during the last year were flats, selling for an average price of £440,125. Terraced properties sold for an average of £963,684, with semi-detached properties fetching £1,365,000. Overall, sold prices in Hornsey Rise over the last year were 10% up on the previous year and 2% up on the 2017 peak of £652,253.”

For Archway, as at the end of December 2020, Rightmove said;

“Properties in Archway had an overall average price of £658,561 over the last year. The majority of sales in Archway during the last year were flats, selling for an average price of £448,129. Terraced properties sold for an average of £897,397, with semi-detached properties fetching £1,432,500.

Overall, sold prices in Archway over the last year were 7% up on the previous year and 5% up on the 2017 peak of £630,081.”

For Crouch End, as at the end of December 2020, Rightmove said;

“Properties around Crouch End had an overall average price of £689,208 over the last year. The majority of sales around Crouch End during the last year were flats, selling for an average price of £495,259. Terraced properties sold for an average of £953,569, with semi-detached properties fetching £1,047,923.

Overall, sold prices around Crouch End over the last year were 9% up on the previous year and 2% down on the 2017 peak of £700,424.”

All three of these areas experienced a rise in sold prices compared to the previous year.

We know these are challenging times, but if you have any questions about the local property market, please feel free to contact us. At Ariston Property, we aim to support the local community as best we can, and we look forward to assisting you in any way.