Haringey house prices increased more than London average in November

House prices increased by 1.4% – more than the average for London – in Haringey in November, new figures show.
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 1.4% – more than the average for London – in Haringey in November, new figures show.

The rise contributes to the longer-term trend, which has seen property prices in the area grow by 7.9% over the last year.

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The average Haringey house price in November was £627,515, Land Registry figures show – a 1.4% increase on October.

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

Over the last year, the average sale price of property in Haringey rose by £46,000 – putting the area 16th 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 18.5%, to £936,000. At the other end of the scale, properties in Kensington and Chelsea lost 6.3% of their value, giving an average price of £1,350,000.

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The average UK house price edged down to £295,000 in November 2022, from the previous month's record high of £296,000.

Property prices increased by 10.3% in the year to November, slowing from 12.4% in October.

Nathan Emerson, CEO of Propertymark, which represents estate agents, said: "In November, our agents reported a market that was on the cusp of seeing purchasing power handed back to buyers which was a trend we hadn’t seen in months."

And Roger Evans, director of home finance distribution at Gatehouse Bank, said: “The property market is slowly becoming more favourable for buyers in some areas as rates stabilise a little following the turbulence of 2022.”

First steps on the property ladder

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First-time buyers in Haringey spent an average of £553,000 on their property – £40,000 more than a year ago, and £66,000 more than in November 2017.

By comparison, former owner-occupiers paid £713,000 on average in November – 28.9% more than first-time buyers.

Property types

Owners of terraced houses saw the biggest rise in property prices in Haringey in November – they increased 1.6%, to £757,873 on average. Over the last year, prices rose by 10.6%.

Among other types of property:

Detached: up 0.5% monthly; up 6.4% annually; £2,219,580 averageSemi-detached: up 1.1% monthly; up 8.6% annually; £1,162,295 averageFlats: up 1.2% monthly; up 6.1% annually; £509,246 average

How do property prices in Haringey compare?

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Buyers paid 15.7% more than the average price in London (£542,000) in November for a property in Haringey. Across London, property prices are higher than those across the UK, where the average cost £295,000.

The most expensive properties in London were in Kensington and Chelsea – £1.3 million on average, and 2.2 times as much as more than in Haringey. Kensington and Chelsea properties cost 3.8 times as much as homes in Barking and Dagenham (£360,000 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 November

Haringey: £627,515London:£542,311UK: £294,910

Annual growth to November

Haringey: +7.9%London: +6.3%UK: +10.3%

Highest and lowest annual growth in London

City of London: +18.5%Kensington and Chelsea: -6.3%