Neil Addington is the Director of award winning local estate agents Ivy Gate, covering Borehamwood, Barnet and surrounding areas. He regularly comments on the UK and local housing market.
A couple of weeks back I commented on property values in Borehamwood and in particular, how values had risen on average 41% over the last five years with the average property price now at £431,000.
Over the last five years, there were 1,626 properties sold in Barnet, with semi-detached houses and apartments being the most popular, making up 68% of all sales. Property values had also risen by 36%.
Prices in both areas have done exceptionally well, with both experiencing average price increases over 35% over the longer period. Change wise, Borehamwood has done slightly better but it is worth noting that Barnet prices are on average 48% higher than Borehamwood.
With all the negative media attention about Brexit it will be having some impact on the market with regards to buyers and sellers making decisions leading up to the vote.
This is of course dependent on which way the individual’s views are and what they genuinely believe will be the outcome of the referendum, when in-fact nobody knows what impact ‘leaving or staying’ will have on the property market.
Whatever the outcome, there is always going to be a high demand for homes in the area, both to buy and to let. With most people priced out of central London, demand in the area is currently outstripping supply.
Whether you’d like to buy, sell, rent or simply talk about property in the area, feel free to pop in for a no obligation discussion over a coffee.
For more information or for a free valuation visit ivygate.co.uk