Haringey house prices increased in September

House prices increased by 2.4% in Haringey in September, new figures show.

The rise contributes to the longer-term trend, which has seen property prices in the area grow by 1.9% over the last year.

The average Haringey house price in September was £623,771, Land Registry figures show – a 2.4% increase on August.

Over the month, the picture was different to that across London, where prices decreased 0.3%, and Haringey was above the 0.5% drop for the UK as a whole.

Over the last year, the average sale price of property in Haringey rose by £12,000 – putting the area seventh among London’s 33 local authorities with price data for annual growth.

The highest annual growth in the region was in Tower Hamlets, where property prices increased on average by 6.4%, to £509,000. At the other end of the scale, properties in Kensington and Chelsea lost 20.6% of their value, giving an average price of £1,203,000.

First steps on the property ladder

First-time buyers in Haringey spent an average of £548,100 on their property – £9,900 more than a year ago, and £47,700 more than in September 2018.

By comparison, former owner-occupiers paid £712,100 on average in September – 29.9% more than first-time buyers.

Property types

Owners of flats saw the biggest rise in property prices in Haringey in September – they increased 2.6%, to £507,854 on average. Over the last year, prices rose by 2.3%.

Among other types of property:

• Detached: up 0.9% monthly; up 1.8% annually; £2,242,275 average
• Semi-detached: up 2% monthly; up 1.4% annually; £1,157,894 average
• Terraced: up 2.2% monthly; up 1.5% annually; £749,259 average

How do property prices in Haringey compare?

Buyers paid 16.1% more than the average price in London (£537,000) in September for a property in Haringey. Across London, property prices are high compared to those across the UK, where the average cost is £291,000.

The most expensive properties in London were in Kensington and Chelsea – £1.2 million on average, and 1.9 times the price as in Haringey. Kensington and Chelsea properties cost 3.5 times the price as homes in Barking and Dagenham (£346,000 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 September

• Haringey: £623,771
• London:£537,424
• UK: £291,385

Annual change to September

• Haringey: +1.9%
• London: -1.1%
• UK: -0.1%

Highest and lowest annual growth in London

• Tower Hamlets: +6.4%
• Kensington and Chelsea: -20.6%