Harrow house prices held steady in August

General view of estate agents signs outside a block of flats in Basingstoke, Hampshire.

House prices remained steady in Harrow in August, new figures show.

The lack of movement maintains the longer-term trend, which has seen property prices in the area suffer a 4.3% annual decline.

The average Harrow house price in August was £511,271, Land Registry figures show – largely unchanged from July.

Over the month, the picture was similar to that across London, where prices decreased 0.1%, but Harrow was lower than the 0.3% rise for the UK as a whole.

Over the last year, the average sale price of property in Harrow fell by £23,000 – putting the area 29th among London’s 33 local authorities with price data for annual growth.

The highest annual growth in the region was in Haringey, where property prices increased on average by 5.8%, to £630,000. 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.

First steps on the property ladder

First-time buyers in Harrow spent an average of £421,000 on their property – £20,000 less than a year ago, but £31,000 more than in August 2018.

By comparison, former owner-occupiers paid £584,000 on average in August – 38.6% more than first-time buyers.

Property types

Owners of detached houses saw the biggest rise in property prices in Harrow in August – they increased 0.5%, to £1,248,003 on average. Over the last year, prices dropped by 3.6%.

Among other types of property:

Semi-detached:

Terraced:

Flats:

How do property prices in Harrow compare?

Buyers paid 4.5% less than the average price in London (£536,000) in August for a property in Harrow. 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 – £1.4 million on average, and 2.7 times the price as in Harrow. 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

Harrow: £511,271
London:£535,597
UK: £291,044

Annual change to August

Harrow: -4.3%
London: -1.4%
UK: +0.2%

Highest and lowest annual growth in London

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