Mill Hill Local Market Update Q3

MARKET SUMMARY

NW7

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.

Mill Hill Local Market Update LOCAL MARKET ROUND UP

THE LAST 3 MONTHS, TOP 3 TRANSACTIONS

We are pleased to report that transactions are up 30% year on year. This is partly due to the outstanding primary and secondary schools in the area. Mill Hill has great transport links in and out of London, connecting you with the city and the hertforshire countryside making it a desirable area for professionals and young families.

£2.165m UPHILL ROAD NW7

£2.07m MILESPIT HILL NW7

Transactions by price band over the last 12 months NATIONAL

MILL HILL

£930k

less than £100k £100k-£250k

Cranley Terrace NW7

£250k-£500k £500k-£750k £750k-£1m £1m-£2m £2m-£5m £5m+

HOUSE PRICE GROWTH OVER 1 YEAR AND 3 YEARS

Percentage of sales by property type over last 12 months

38%

14%

Apartments

Terraced

25% Semi-detached

23% Detached

3

-5%

-22%

STREET WITH MOST TRANSACTIONS IN LAST 3 MONTHS

Average prices over last 12 months £1,600,000

Brookfield Crescent Brookfield Avenue

£1,200,000 £800,000 £400,000 0 Flat/Apartment

Mill Hill

Terraced

Semi-detached

Detached

Greater London

Source:Dataloft, Land Registry

Gregg Cruder Mill Hill Office 109 Mill Hill Broadway, Mill Hill, NW7 3TG T: 020 8906 0660 E: Greggc@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!”