While our heart is in Finchley, David Harris & Co pays attention to the property market across the London Borough of Barnet, the capital itself, and of course, the whole of England. Our focus ensures you receive the best standard of service with any Finchley housing move you wish to make, but you can rest assured our guidance is based on knowledge of the market as a whole.
House Prices in Barnet
As of December 2024, the average house price in Barnet was £617,000, showing little change from the previous year (£615,000). Compared to the London average of £549,000 and the Great Britain average of £271,000, Barnet remains a sought-after borough with higher-than-average property values.
While overall prices remained stable, different property types saw varied trends:
Flats and maisonettes saw a modest price increase of 1.9%.
Detached properties experienced a 3.4% decline.
Here’s a breakdown of average prices by property type:
Detached properties: £1,558,000
Semi-detached properties: £835,000
Terraced properties: £637,000
Flats and maisonettes: £403,000
Rental Market Trends
The rental market in Barnet has seen notable increases, reflecting growing demand. As of January 2025, the average private rent rose to £1,805 per month, a 5.4% increase from £1,712 in January 2024. This compares with an average London rent of £2,227 and a Great Britain average of £1,332.
Rental prices increased across all property types:
Flats and maisonettes: £1,609
Terraced properties: £2,059
Semi-detached properties: £2,393
Detached properties: £2,838
Rents also varied by the number of bedrooms:
One-bedroom: £1,381 (+6.3%)
Two-bedroom: £1,719
Three-bedroom: £2,093
Four or more bedrooms: £2,998 (+3.8%)
First-Time Buyers in Barnet
For those looking to take their first step onto the property ladder, the average price paid by first-time buyers in December 2024 was £493,000, reflecting a 1.6% increase from £485,000 the previous year.
While this is significantly higher than the Great Britain average of £330,000, it remains below London’s overall first-time buyer average of £677,000.
We believe this positions Finchley as an attractive option for many first-time buyers. This is also good news for sellers in the area, who were possibly first-time buyers in the area themselves. Knowing there is a steady influx of willing buyers coming to the market is great news, because it means homeowners can sell with confidence, continuing their property market journey.
For home-movers, the average price stood at £789,000, largely unchanged from £797,000 in December 2023.
Mortgage vs Cash Buyers
In December 2024, the average price of a home bought with a mortgage was £627,000, consistent with £625,000 a year earlier. For cash buyers, the average was slightly lower at £584,000, which was also in line with the previous year.
These figures highlight the importance of securing competitive mortgage rates for those looking to buy with financing, while cash buyers may find themselves in a strong position when negotiating.
London Borough of Barnet housing market resilient and stable
Barnet’s property market remains resilient, with stable house prices and rising rents reflecting continued demand. First-time buyers face higher entry costs but still find Barnet, and of course Finchley, more affordable than some central London areas. Meanwhile, sellers should focus on realistic pricing and presentation to secure strong offers in an evolving market.
Contact Us Today
Ready to explore Finchley’s property market? Contact David Harris & Co for expert advice and a stress-free experience. Call us on 0208 346 9122 to get started. Let’s make Finchley your next home.
