Enfield house prices increased in July

File photo dated 14/10/14 of sold and for sale signs. A scramble by buyers to complete before the stamp duty holiday started winding down pushed UK house prices to a record high in June, official figures show. House prices rose by 13.2% over the year to June, faster than at any point since November 2004, according to the Office for National Statistics (ONS). Issue date: Wednesday August 18, 2021.

House prices increased by 2.9% in Enfield in July, new figures show.

The boost contributes to the longer-term trend, which has seen property prices in the area achieve 12.7% annual growth – the highest in London.

The average Enfield house price in July was £438,360, Land Registry figures show – a 2.9% increase on June.

Over the month, the picture was better than that across London, where prices decreased 2%, and Enfield outperformed the 3.7% drop for the UK as a whole.

Over the last year, the average sale price of property in Enfield rose by £50,000 – putting the area top among London’s 33 local authorities for annual growth.

At the other end of the scale, properties in City of London lost 10.4% of their value, giving an average price of £705,000.

Winners and Losers

Owners of detached houses saw the biggest improvement in property prices in Enfield in July – they increased 3.7%, to £1,058,280 on average. Over the last year, prices rose by 14.9%.

Among other types of property:

Terraced: up 2.3% monthly; up 14.2% annually; £465,172 averageFlats: up 3% monthly; up 9.6% annually; £305,001 average

First steps on the property ladder

First-time buyers in Enfield spent an average of £382,000 on their property – £41,000 more than a year ago, and £39,000 more than in July 2016.

By comparison, former owner-occupiers paid £499,000 on average in July – 30.7% more than first-time buyers.

How do property prices in Enfield compare?

Buyers paid 11.4% less than the average price in London (£495,000) in July for a property in Enfield. Across London, property prices are high compared to those across the UK, where the average cost £256,000.

The most expensive properties in London were in Kensington and Chelsea – £1.3 million on average, and three times as much as in Enfield. Kensington and Chelsea properties cost 4.1 times as much as homes in Barking and Dagenham (£323,000 average), at the other end of the scale.

The highest property prices across the UK were in Kensington and Chelsea, where the average July sale price of £1.3 million could buy 13 properties in Burnley (average £101,000).

Factfile

Average property price in July

Enfield: £438,360London:£494,673UK: £255,535

Annual growth to July

Enfield: +12.7%London: +2.2%UK: +8%

Best and worst annual growth in London

Enfield: +12.7%City of London: -10.4%