Haringey house prices dropped in June
House prices dropped by 1.2% in Haringey in June, new figures show.
But the drop does not reverse the longer-term trend, which has seen property prices in the area achieve 3.5% annual growth.
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Hide AdThe average Haringey house price in June was £556,723, Land Registry figures show – a 1.2% decrease on May.
Over the month, the picture was worse than that across London, where prices increased 2.5%, and Haringey underperformed compared to the 4.5% rise for the UK as a whole.
Over the last year, the average sale price of property in Haringey rose by £19,000 – putting the area 24th among London’s 33 local authorities for annual growth.
The best annual growth in the region was in Harrow, where property prices increased on average by 16.7%, to £522,000. At the other end of the scale, properties in City of London lost 13.2% of their value, giving an average price of £756,000.
Winners and Losers
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Hide AdOwners of detached houses fared worst in Haringey in June – they dropped 2.7% in price, to £650,746 on average. But over the last year, prices rose by 1.4%.
Among other types of property:
Semi-detached: down 1.7% monthly; up 3.3% annually; £984,628 averageTerraced: down 0.9% monthly; up 5.5% annually; £650,746 averageFlats: down 1.3% monthly; up 2.3% annually; £465,623 average
First steps on the property ladder
First-time buyers in Haringey spent an average of £494,000 on their property – £16,000 more than a year ago, and £18,000 more than in June 2016.
By comparison, former owner-occupiers paid £626,000 on average in June – 26.6% more than first-time buyers.
How do property prices in Haringey compare?
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Hide AdBuyers paid 9.1% more than the average price in London (£510,000) in June for a property in Haringey. Across London, property prices are high compared to those across the UK, where the average cost £266,000.
The most expensive properties in London were in Kensington and Chelsea – £1.2 million on average, and 2.2 times as much as in Haringey. Kensington and Chelsea properties cost 3.9 times as much as homes in Barking and Dagenham (£319,000 average), at the other end of the scale.
The highest property prices across the UK were in Kensington and Chelsea, where the average June sale price of £1.2 million could buy 13 properties in Burnley (average £99,000).
Factfile
Average property price in June
Haringey: £556,723London:£510,299UK: £265,668
Annual growth to June
Haringey: +3.5%London: +6.3%UK: +13.2%
Best and worst annual growth in London
Harrow: +16.7%City of London: -13.2%