Average asking prices rise 19.2 per cent across borough of Camden

PUBLISHED: 11:51 13 December 2017 | UPDATED: 12:43 13 December 2017

Despite an overall rise across Camden, asking prices dipped at the highest end of the market

Despite an overall rise across Camden, asking prices dipped at the highest end of the market

This content is subject to copyright.

The borough of Camden bucked a trend of falling house prices across London in 2017, according to new statistics published by Rightmove.

The property website’s annual report on the UK’s housing market showed that average house prices across Camden rose by 19.2 per cent compared to December 2016 - the highest increase in London. Meanwhile, average prices in the neighbouring boroughs of Islington and the City of Westminster fell by 10.1 per cent and 8.7 per cent respectively.

Statistics showed that average prices across the capital as a whole fell by 1.8 per cent this year, and Rightmove went on to predict a further 2 per cent drop in asking prices across London in 2018.

Despite this overall rise across the borough, properties at the highest end of the market generally fell in 2017 according to James Morton, director at Benham & Reeves estate agents in Hampstead.

Mr Morton said: “The more expensive areas within the Camden borough have seen their prices suffer in 2017, particularly at the higher end of the price range.

“The significantly diminished demand, due to the uncertainty surrounding Brexit and the excessive Stamp Duty costs, have created a low transaction market. The motivated sellers have had to adjust their prices downwards to sell, but in most cases the serious buyers have responded positively.”

Morton continued to say that: “Unless there is clarity on Brexit and perhaps some reduction on these highly punitive property taxes then we expect 2018 to be similar to 2017.”

Rightmove’s report revealed that the average property price in London is now £605,203, which was more than four times the cost of the North East of England, where the average asking price stands at £146,090.

Miles Shipside, director and housing marketing analyst at Rightmove, said: “2018 will continue the 2017 trend of being a real mixed bag of different price pressures both up and down, but the net result is that we forecast another year of slowing in the pace of price rises.

“Economic and political uncertainty tend to weigh more heavily on the capital, given the large number of residents involved either directly or indirectly.”

Meanwhile, Russell Quirk, founder and CEO of eMoov.co.uk, backed the resilience and staying power of the city. “Although London may take a little while longer to dust itself off compared to other pockets of the UK, the capital remains one of the most sought-after where homeownership is concerned.

“A continued lack of supply along with this overwhelming buyer demand will see the London property market stand tough and eventually return to its former glory.”

Property search

e.g. Oxford or NW3
Powered by Zoopla

Other Hampstead and Highgate property news

Column: Simon Gerrard on choosing the right area to live in

Good fences make good neighbours goes the saying, but fellow residents can have an impact on the enjoyment of your home. North London estate agent Simon Gerrard shares his tips for finding the perfect location.

Seven tips for creating a wellbeing boosting garden

Matt Keightley, the designer behind the Feel Good Garden at this year’s RHS Chelsea Flower Show, reveals how to make your own outdoor space more soothing. By Hannah Stephenson

Nine ways gardeners can be more waterwise this summer

Want to save your plants and save water? Go easy with the sprinkler and embrace these expert suggestions instead, says Hannah Stephenson

For sale: New show homes open at Highgate development

Two new show apartments have opened at a luxury development in Highgate.

Elegant cottage formerly home to renowned poet, A.E Housman, now for sale in Highgate Village

A cottage in Highgate Village where the renowned poet A.E Housman once lived is now available to buy.

Comment: A War of the Roses? The challenges of dealing with property and divorce

Trevor Abrahmsohn, MD at north London agents Glentree, writes about his encounters with divorcing couples selling the marital home

Home of the week: Handsome 5 bedroom property in Hampstead perfect for a family

On the market for the first time in many years is this attractive, substantial detached double fronted family house located in a prime location.

Fancy owning a Picasso? It’s not impossible says Belsize Village gallery owner

Emma Rice talks to Andrea Sylvester about art and how we could all potentially own a Picasso or a Chagall, if that’s what we love

Callender Howorth interior designers transform Grade II-listed home in Hampstead

Mark Howorth, the founder of luxury interior design firm Callender Howorth, tells us how he brought elegant Indian influences to a period property on NW3’s Heath Drive

Primrose Hill artist Michal Cole on transforming her paintings into woven masterpieces

“It’s actually bringing these paintings back into what they used to be in the Renaissance times – as tapestries.”

Home improvements: How to make a rustic hanging rail

Fancy getting stuck into a creative project? Try your hand at woodworking and hang your coats on this minimalist marvel.

Home of the Week: Handsome four-bedroom Victorian terrace in Dartmouth Park

An attractive four-storey Victorian family home on the upper slopes of peaceful Dartmouth Park

Most Read