Haringey house prices held steady in February

House prices remained steady in Haringey in February, new figures show.

The lack of movement maintains the longer-term trend, which has seen property prices in the area achieve 2.3% annual growth.

The average Haringey house price in February was £595,978, Land Registry figures show – largely unchanged from January.

Over the month, the picture was worse than that across London, where prices increased 2.2%, and Haringey underperformed compared to the 0.5% rise for the UK as a whole.

Over the last year, the average sale price of property in Haringey rose by £13,000 – putting the area 28th among London’s 33 local authorities with price data for annual growth.

The best annual growth in the region was in City of London, where property prices increased on average by 15.4%, to £840,000. At the other end of the scale, properties in Lewisham lost 2% of their value, giving an average price of £436,000.

Winners and Losers

Owners of flats saw the biggest improvement in property prices in Haringey in February – they increased 0.2%, to £494,085 on average. Over the last year, prices rose by 1.5%.

Among other types of property:

Detached: down 1.1% monthly; up 5.5% annually; £2,070,077 averageSemi-detached: down 0.5% monthly; up 5.2% annually; £1,089,613 averageTerraced: down 0.2% monthly; up 2.8% annually; £700,127 average

First steps on the property ladder

First-time buyers in Haringey spent an average of £526,300 on their property – £9,900 more than a year ago, and £18,500 more than in February 2017.

By comparison, former owner-occupiers paid £675,900 on average in February – 28.4% more than first-time buyers.

How do property prices in Haringey compare?

Buyers paid 12.5% more than the average price in London (£530,000) in February for a property in Haringey. Across London, property prices are higher than those across the UK, where the average cost £277,000.

The most expensive properties in London were in Kensington and Chelsea – £1.4 million on average, and 2.3 times as much as more than in Haringey. Kensington and Chelsea properties cost 4.1 times as much as homes in Barking and Dagenham (£341,000 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 February

Haringey: £595,978London:£529,882UK: £276,755

Annual growth to February

Haringey: +2.3%London: +8.1%UK: +10.9%

Best and worst annual growth in London

City of London: +15.4%Lewisham: -2%