Haringey house prices increased in August

By Andrew Dowdeswell, Data Reporter
Published 18th Oct 2023, 16:36 BST
General view of estate agents signs outside a block of flats in Basingstoke, Hampshire.General view of estate agents signs outside a block of flats in Basingstoke, Hampshire.
General view of estate agents signs outside a block of flats in Basingstoke, Hampshire.
House prices increased by 1.7% in Haringey in August, new figures show.

House prices increased by 1.7% in Haringey in August, new figures show.

The rise contributes to the longer-term trend, which has seen property prices in the area grow by 5.8% over the last year – the highest in London.

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The average Haringey house price in August was £629,507, Land Registry figures show – a 1.7% increase on July.

Over the month, the picture was different to that across London, where prices decreased 0.1%, and Haringey was above the 0.3% rise for the UK as a whole.

Over the last year, the average sale price of property in Haringey rose by £35,000 – putting the area top among London’s 33 local authorities with price data for annual growth.

At the other end of the scale, properties in Kensington and Chelsea lost 10.4% of their value, giving an average price of £1,359,000.

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First steps on the property ladder

First-time buyers in Haringey spent an average of £554,000 on their property – £30,000 more than a year ago, and £58,000 more than in August 2018.

By comparison, former owner-occupiers paid £717,000 on average in August – 29.5% more than first-time buyers.

Property types

Owners of detached houses saw the biggest rise in property prices in Haringey in August – they increased 3.3%, to £2,295,635 on average. Over the last year, prices rose by 8.1%.

Among other types of property:

Semi-detached:
Terraced:
Flats:

How do property prices in Haringey compare?

Buyers paid 17.5% more than the average price in London (£536,000) in August for a property in Haringey. Across London, property prices are high compared to those across the UK, where the average cost is £291,000.

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The most expensive properties in London were in Kensington and Chelsea – £1.4 million on average, and 2.2 times the price as in Haringey. Kensington and Chelsea properties cost 3.9 times the price as homes in Barking and Dagenham (£349,000 average), at the other end of the scale.

The highest property prices across the UK were in Kensington and Chelsea (£1.4 million).

Factfile

Average property price in August

  • Haringey: £629,507
  • London:£535,597
  • UK: £291,044

Annual change to August

  • Haringey: +5.8%
  • London: -1.4%
  • UK: +0.2%

Highest and lowest annual growth in London

  • Haringey: +5.8%
  • Kensington and Chelsea: -10.4%