MARKET SUMMARY
N14
Market review Winter Market Update NATIONAL MARKET
1.3%
96,920
UK house price growth, year to August 2019
Transactions in September, a 2.3% increase on a year ago
Source: ONS
We bring you the latest trends in the UK's housing market, with a detailed focus on North London.
Source: HMRC
House prices The average price of a home rose by 1.2% in August compared to a year ago, according to the official UK house price index. This is the highest level of annual growth recorded since April.
National housing market trends 7.5% 5%
Economy
2.5%
At 0.3% growth in the UK economy in the three months to August was slightly higher than expected. Analysts expect growth of 0.5% over quarter 3, and 1.3% over 2019, down slightly from 1.4% in 2018 and 1.9% in 2017.
0% -2.5% -5% -7.5% Sep 18
Oct 18
Nov 18
Dec 18
Jan 19
Mortgage approvals
Feb 19
Mar 19
Apr 19
House prices
May 19
Jun 19
Jul 19
Aug 19
Sept 19
Transactions
Average property values over last 12 months DETACHED
SEMI-DETACHED
TERRACED
FLAT/APARTMENT
£965,559
£638,525
£565,852
£405,343
GREATER LONDON
£857,701
£562,924
£537,085
£422,974
£214,750
£349,066
£178,086
£212,829
Annual change in private rents to September 2019 by region 1. 2. 3. 4. 5. 6. 7.
2.5% 2% 1.5% 1%
8. 9. 10. 11.
0.5% 0% 1
2
3
4
5
6
% change
Source: Dataloft, Land Registry, Bank of England and ONS
7
8
9
10
Sales level in September were at their highest monthly level since August 2017 according to the HMRC. 101,740 sales completed, up 2.3% year on year. Quarter on quarter sales volumes rose 1.8%.
Demand
NORTH LONDON
ENGLAND & WALES
Transactions
11
London South East South West East of England East Midlands West Midlands Yorkshire & The Humber North East North West Wales Scotland
The Bank of England report 65,545 mortgages were approved in August, down -0.9% on a year ago. Quarter on quarter mortgage approvals were up 2.3%, thanks to the uptick in approvals seen in July.
Investment Average rents paid by UK private tenants grew by 1.3% in the year to September, a rate of growth which has remained unchanged from May. Strongest growth is currently in the South West and Yorkshire and the Humber.
Southgate Local Market Update LOCAL MARKET ROUND UP
THE LAST 3 MONTHS, TOP 3 TRANSACTIONS
Although this represents a -6% change on the previous 12 month period, demand for property in the area remains positive especially for Ashmole Academy catchment.
£1.075m AMBERLEY ROAD N13
£1.574m THE GREEN N14
Transactions by price band over the last 12 months NATIONAL
SOUTHGATE
£970K
less than £100k £100k-£250k
THE CLOSE N14
£250k-£500k £500k-£750k £750k-£1m £1m-£2m £2m-£5m £5m+
HOUSE PRICE GROWTH OVER 1 YEAR AND 5 YEARS
Percentage of sales by property type over last 12 months
34%
15%
Apartments
Terraced
44% Semi-detached
6% Detached
–2%
+44%
STREET WITH MOST TRANSACTIONS IN LAST 3 MONTHS
Average prices over last 12 months £1,000,000
AVENUE ROAD, N14
£750,000 £500,000 £250,000 0 Flat/Apartment
Southgate
Terraced
Semi-detached
Detached
Greater London
Source:Dataloft, Land Registry
Raj Phlora Southgate Office 85 Chase Side, Southgate, N14 5BU T:: 020 8886 2094 E:: Rajp@martyngerrard.co.uk
Disclaimer: This report is produced for general information only. Whilst every effort has been made to ensure the accuracy of this publication, Dataloft Ltd accepts no liability for any loss or damage of any nature arising from its use or from any changes made to Dataloft content by Inform users. Reproduction of all or part of the report in any form is prohibited without written permission from Dataloft Ltd. Report edited by Inform user and published on 2019-10-03.
Do Not Disturb Until 2020 Spend more time doing what you love
Over the festive break the MG website, Zoopla and Rightmove see a huge spike in the number of searches from buyers looking for their next home. Not putting your home on the market until 2020 means you miss the influx of new buyers beginning their property search online over the holidays. Call us NOW and get the ball rolling, we’ll prepare the marketing for your property and set it to go live on Boxing Day. For extra exposure, talk to us about Intelligent Targeted Marketing, (our upgrade service that boosts the social media exposure for your property by placing it in front of thousands more eyes). We will look after all the enquiries leaving you to enjoy the festivities in peace whilst your property gains interest. Only Martyn Gerrard offer all of this: • Access to
unique to Martyn Gerrard
• Unique ‘The Owners Love’ – to make your home stand out • True Video Tours – to show off your property’s best bits • Professional pictures and full colour floor plans • Network of 11 linked offices marketing your property • Award-winning service and over 55 years’ knowledge and experience
Call your local branch NOW – we’ll be happy to talk through the process so you can enjoy
Christmas and start the New Year knowing you haven’t missed out on a potential buyer. “Don’t miss out on some of the busiest days of the year for property searches!”