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Haringey house prices rise by 10% in month

House prices rose by 10 per cent between February and March 2014 House prices rose by 10 per cent between February and March 2014

Friday, March 21, 2014
7:00 AM

A “feverish” air in Haringey’s housing market has contributed to an almost 10 per cent leap in house prices in just a month, according local estate agents.

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Asking prices in Haringey rose by almost £50,000 from February to March, fuelled by the increased ­demand for houses in the area.

According to figures from website Rightmove, Haringey was London’s best performer in March, with the average property price ­increasing from £545,638 on February 14 to £597,634 on March 14.

Mark Johansen, manager at Prickett & Ellis, Crouch End, said: “There is a feverish kind of air in the market. For every property you put on the market you’ve got 20, 30, 40 people fighting for it.

“It’s as mad as it has been. People are just jumping on everything now. It’s all upwards at the moment, that’s all I can see for the foreseeable future really.

“The amount of competition on the average property is incredible, absolutely incredible.”

The jump mean prices in Haringey are now a little closer to its inner London neighbours – although it is still lagging behind: Camden, Islington and Hackney saw average prices for March at £1,016,050, £754,328, and £665,708 respectively.

Richard Bracewell, of Bracewells Estate Agents in Hornsey, said: “It is all fuelled by ­demand, and at the moment we have a shortage in good quality properties and at the same time you see a surge in interest and as a result asking prices increase and are increasing on a monthly basis.

“I think it is fair to say that the London property market can no longer be measured just by the prime central London boroughs.

“The outer London boroughs are proving very popular with a rippling effect, but there seems to be more demand currently with the outer London boroughs.”

Mr Bracewell’s agency sees up to 30 prospective buyers looking at a property while Mr ­Johansen, found a similar response. Many include first-time and cash buyers offering over-listed asking prices due to high demand.

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