Camden's £50k Covid-19 fall in house prices bucks north London trend

Houses on Parliament Hill in Hampstead, north London.

Houses on Parliament Hill in Hampstead - Credit: PA

House prices in Camden bucked a London trend during the pandemic with the latest data showing a significant fall in prices between April 2020 and April 2021. 

According to national data, the average property sold in the borough was £50,892 cheaper at £812,624 after a year of the Covid-19 crisis. 

But borough neighbours Haringey, Barnet, Islington and Brent have seen slight house price rises. 

Haringey's average house price in April this year was £561,253. That's £18,283 more than a year before. 

Barnet saw a £14,047 rise to £544,682. 

Islington is the borough which has seen the biggest rise compared to the equivalent 2020 figure. Its average sale price was £673,362, up £32,690. 

Of nearby boroughs, Brent continues to have the lowest average sale price. In April 2021 it was £479,010 - £7,656 more than a year before.

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But a huge drop in Westminster, highlights that, as with around Hampstead and Highgate, the value of the most expensive homes in the city has fallen. 

In April 2020, the average sale price in Westminster was a massive £1,033,831. A year later, the house price index suggests it's more than a £100,000 cheaper to buy in the borough. 

The average figure for April 2021 was £918,858 - so a total of £114,573 less. 

The numbers come from the UK House Price Index which is released by the Land Registry and the Office of National Statistics (ONS) on a monthly basis.

Estate agent Dexters told this newspaper it was "experiencing high levels of demand" across its north London offices. 

Nationwide the UK's average prices are £20,000 up on a year ago. 

Another local estate agent, Jeremy Leaf, said: "Looking forward, our experiences on the ground tell us that market activity is set to continue at similar levels at least for the next few months, although increasing sales instructions will result in some price softening rather than a correction.”

ONS statistician Sam Beckett said: “House prices continued to increase when compared with last year, with London once again showing the lowest annual growth, with the slowing of prices most apparent within inner London boroughs."