Camden property tops the table again as asking prices rise in November
PUBLISHED: 10:15 17 November 2014 | UPDATED: 10:27 17 November 2014
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Camden regains its crown as the best performing borough this month as it recorded an average asking price increase of 5.2 percent between October and November from £1,018,009 to £1,071,358.
This is compared to the average increase of 0.8 pc across Greater London according to the Rightmove House Price Index.
The news follows Land Registry reports of stagnating sales prices in Q3 of this year and an asking price rise in Camden of just 0.5 pc from September to October according to last month’s Rightmove figures.
Property is also taking longer to sell, with the time increasing from 51.8 days to 54 days in the past month, the fourth consecutive month in which this figure has gone up.
North London agents have reported a slackening in the local housing market since September, but all note that this is a normal part of the property market cycle, and Camden remains the fourth most expensive borough in the capital.
Miles Shipside Rightmove director said: “While speculators come and go depending on shorter term profit opportunities, family buyers have longer-term needs that often cannot be indefinitely delayed as families outgrow their homes.
“The sub-plot here could also be that more high-end sellers have come to market in the more expensive boroughs this month, perhaps looking to cash in and move further out, or trying to sell before any threat of Mansion Tax becomes a reality.”
Meanwhile, asking prices are also showing an annual increase as the London average exceeded £600,000 for the first time.