The height of summer is never the busiest time of year in the London housing market. When you add in the challenges of buying and selling property in 2023, it is understandable that not everyone is keeping a close eye on the Finchley property market at this time.
This isn’t the case for David Harris & Co though. We are pleased to say we are local housing market specialists, and we play close attention to property prices, and what is available on the market. We are pleased to say we speak with people daily, looking for updates, and staying in touch with what the local market offers.
As at the end of July 2023, Rightmove said the following about the Finchley housing market;
“Properties in Finchley had an overall average price of £751,390 over the last year.
The majority of sales in Finchley during the last year were flats, selling for an average price of £439,836. Semi-detached properties sold for an average of £1,058,281, with terraced properties fetching £863,947.
Overall, sold prices in Finchley over the last year were 7% up on the previous year and 15% up on the 2017 peak of £655,709.”
For London, the leading property portal said;
“Properties in London had an overall average price of £783,574 over the last year.
The majority of sales in London during the last year were flats, selling for an average price of £590,608. Terraced properties sold for an average of £938,297, with semi-detached properties fetching £995,655.
Overall, sold prices in London over the last year were 2% up on the previous year and 8% up on the 2020 peak of £725,321.”
By looking at these two areas of information, you can see there isn’t much (in the grand scheme of things) between average prices in Finchley, and London as a whole. Property in Finchley is around £30,000 more affordable than the London average.
For sold prices, there was a 2% rise in the capital as a whole in the past 12 months whereas in Finchley, there was an increase of 7%. So, prices are rising at a more rapid rate in Finchley than the London average.
Locally, and for London as a whole, the majority of sales are flats. This is a change from a few years back, when many industry specialist extolled the virtues of bigger homes. People clearly want space, but price is likely the driving factor for so many people these days, which means flats provide a more affordable option.
We have assisted many Finchley homeowners connect with willing buyers, and we know where these groups are looking for property. You can take the stress out of connecting with your ideal buyer by turning to a local estate agent specialist in Finchley.
If you want to make an informed decision in and around Finchley’s property market, we are here for you. If you have any questions about the local market, or you need assistance, please contact David Harris & Co today. Call us on 0208 346 9122.
