Enfield house prices increased in May

General view of estate agents signs outside a block of flats in Basingstoke, Hampshire.

House prices increased by 1% in Enfield in May, new figures show.

But the rise does not reverse the longer-term trend, which has seen property prices in the area suffer a 0.2% annual decline.

The average Enfield house price in May was £445,676, Land Registry figures show – a 1% increase on April.

Over the month, the picture was different to that across London, where prices decreased 1.2%, and Enfield was above the UK as a whole, where prices did not change.

Over the last year, the average sale price of property in Enfield fell by £710 – putting the area 26th among London’s 33 local authorities with price data for annual growth.

The highest annual growth in the region was in City of London, where property prices increased on average by 24.1%, to £988,000. At the other end of the scale, properties in Kensington and Chelsea lost 13.4% of their value, giving an average price of £1,314,000.

First steps on the property ladder

First-time buyers in Enfield spent an average of £387,000 on their property – £1,000 less than a year ago, but £35,900 more than in May 2018.

By comparison, former owner-occupiers paid £509,200 on average in May – 31.6% more than first-time buyers.

Property types

Owners of flats saw the biggest rise in property prices in Enfield in May – they increased 1.1%, to £301,652 on average. Over the last year, prices dropped by 0.2%.

Among other types of property:

Detached: up 1.1% monthly; down 0.1% annually; £1,116,179 average
Semi-detached: up 0.7% monthly; up 0.1% annually; £703,500 average
Terraced: up 1.1% monthly; down 0.5% annually; £475,998 average

How do property prices in Enfield compare?

Buyers paid 15.2% less than the average price in London (£526,000) in May for a property in Enfield. Across London, property prices are high compared to those across the UK, where the average cost is £286,000.

The most expensive properties in London were in Kensington and Chelsea – £1.3 million on average, and 2.9 times the price as in Enfield. Kensington and Chelsea properties cost 3.7 times the price as homes in Barking and Dagenham (£356,000 average), at the other end of the scale.

The highest property prices across the UK were in Kensington and Chelsea.

Factfile

Average property price in May

Enfield: £445,676
London:£525,629
UK: £285,861

Annual change to May

Enfield: -0.2%
London: +0.8%
UK: +1.9%

Highest and lowest annual growth in London

City of London: +24.1%
Kensington and Chelsea: -13.4%