Story Highlights

• North London had total property sales of approx. £6.6 billions in 2016
• The maximum sales at borough level was in Barnet at £3.25 billions 
• The total number of North London properties sold in 2016 was 11,760
• The average sales price in North London was £561 K, whereas median was £425 K
• By borough the average price was maximum in Haringey at £607 K 
• New Property sales were 11.24% by value, whereas Not New Property contributed 88.76%
• Stamp duty changes caused monthly spike in March
• Brexit coupled with Stamp Duty changes caused total sales to decline by 5.7%

 

North London is the northern part of London. It comprises of Barnet, Enfield, Haringey

 

Total Sales By Borough

 The total sales of £6.6 billions in 2016 was split across its borough as above. It is 8.68% of London Property Market 2016

• Barnet: £3.25 billions (49.26%)
• Haringey: £1.68 billions (25.38%)
• Enfield: £1.67 billions (25.36%)

 

Year on Year Comparison : Compared to North London Property Market 2015  in 2016

• North London as a whole had property sales decrease of £400 millions i.e. 5.7%
• Barnet, Haringey, Enfield each had decrease in total property sales over 2015

 

 

Total Value of Sales By Property Types

 

North London in 2016 had total property sales of £6.6 billions.The split across the different property types are:

• Detached £778 millions (11.79%)
• Semi-Detached £1.26 billions (19.03%)
• Terraced £ 1.74 billions (26.29%)
• Other £552 million (8.37%)
• Flat/Maisonette £2.28 billions (34.52%)

 Year on Year Comparison : Compared to North London Property Market 2015  in 2016

• All the property types have shown decline in sales except Flat/Maisonette
• Flat/Maisonette has show very modest growth of 1.3% from £2.25 billions in 2015 to £2.28 billions in 2016

 

 

Month-wise Break-up of Total Sales

 

Stamp Duty Hike Impact

1. March had property sale spike of £ 1.20 billions  compared to £ 490 millions in Feb 
2. The impetus for it was to avoid the extra 3% in Stamp Duty Tax applicable on buying an additional home, being applicable from April 1 2016

Brexit Impact

1. Brexit took place on 23rd June 2016.
2. As can be observed from the month-wise break-up there does not seem to have been  dip in property sales in the immediate aftermath of Brexit 
3. Year on Year the property market for North London has shown a decline of 5.71% over 2015

 

 

Total Number Of Sales By Property Types

 

 The total number of property sold in North London 2016 was 11,760. It is split as:

• Detached 583 (4.96%)
• Semi-Detached 1,691 (%)
• Terraced 3,118 (26.51%)
• Flat/Maisonette 5,964 (50.71%)
• Other 404 (3.44%)

Year on Year Comparison : Compared to North London Property Market 2015 in 2016

• Total number of property sales in North London  has decreased  by 1,065 which is 8.3% decline
• All property types have shown decline in number of properties sold except property type Other
• Other has shown significant increase  of 69% from 239 in 2015 to 404 in 2016.

 

 

Average & Median Sales Price

 

The average sales price in North London was £561 K. For the different property types it was:

• Detached: £1.33 millions
• Semi-Detached: £743 K
• Terraced: £557 K
• Flat/Maisonette: £382 K
• Other it is £1.37 millions.

 

Similarly the median sales price in North London was £425 K. For the different property types it was:

• Detached: £1 millions
• Semi-Detached: £655 K
• Terraced: £480 K
• Flat/Maisonette: £353 K
• Other it is £400 K

 Year on Year Comparison : Compared to North London Property Market 2015

• The average and median sales price across all property types have gone up except for others

 

 

Average & Median Sales Price By Borough

In North London the average of Sales Price is as above.

• The highest average sales prices is in Haringey at £607 K
• Barnet at £603 K,
• Enfield being minimum at £463 K

In North London the median of sales price is as above.

• The median sales prices was maximum in Barnet at £464 K
• Haringey at £446 K
• Enfield being minimum at £375 K

 Year on Year Comparison : Compared to North London Property Market 2015 in 2016

• The average and median sales price across all the North London boroughs have gone up with Haringey leading the pack in average sales price and Barnet in median sales price.

 

 

New Vs Not New Property Statistics

 

By Value Of Sales

• The sales value contributed by New Property was £742 millions (11.24%)
• Not New Property contributed £5.9 billions (88.76%).

By Number Of Sales

• New properties sold were 1,564 (13.3%)
• Not new property sold were 10,196 (86.7%)

Year on Year Comparison : Compared to North London Property Market 2015  in 2016

• New property market share in property market has gone up in 2016 over 2015

 

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