House Prices in Barnet
Are you moving this year? Well, Barnet is one of those places you can move to in England for quality of life. Life in Barnet is what most young families in the UK are looking for. Most people prefer to invest in the Barnet property market because of the increasing rental demand in this town.
With a bustling population and a lot of space to expand, Barnet is one of the largest boroughs in the capital of London. You should look forward to buying property in this town. There are many reasons why you should look forward to investing in the property market here.
When buying property in the UK, you should hire residential property lawyers in Barnet such as AVRillo to make your move easy. Here are the many reasons you should consider Barnet when you are buying property in the UK.
Barnet Property Market
Barnet has one of the most lucrative property markets in the UK. According to the statistics from HM Land Registry, a typical residential property in Barnet capital was worth £531K between 2017 and 2018. In this report published in 2018, the average house price in London was twice the national average of £247K.
The latest statistics from Zoopla show that the average house price in Barnet this year is £714,733. Here is how the property prices range in this town:
- Detached: £1,416,216
- Semi-detached: £769,936
- Terraced: £626,181
- Flats: £387,584
The data also shows that the average sold price for property in Barnet is £342,515. Barnet has one of the highest property asking prices in England.
According to data from Rightmove, the house sold prices in this town for the last 12 months were up by 8% and 15% on the 2017 peak of £666,413.
While the mean asking price for property in central London and other cities in the UK was falling, Barnet’s asking price was up by 10%. This is the highest asking price in any of the London boroughs.
Why are property prices in Barnet booming?
Many things are contributing to the high property price in Barnet. Here are some reasons you are most likely to invest more in Barnet property.
1 – Affordable living
The affordability of life in Barnet is among the many reasons property prices are rising.
Most of the homebuyers in Barnet are families upsizing and looking for more room to settle.
Good schools for kids surround Barnet. Schools are parents' most important considerations when they move to a new place. There are many excellent and independent schools in Barnet. The Queen Elizabeth School and Dame Alice Owen are some of the highly reputable schools here.
2 - Transport links
Transport link also makes it great for commuters with the train tube linking London and other locations. Barnet has a great transport link for those commuting to London. You can easily access the capital and neighboring towns when living in Barnet.
The many roads and highways linking the town to London also make Barnet one place most people prefer to live and work.
3 - Quality of life
Most people would prefer to buy property in Barnet and live in this town for the quality of life. Barnet residents can enjoy an amazing selection of restaurants and pubs in the town. There are a lot of music venues in this borough, so residents have no shortage of places to enjoy the nightlife.
Barnet also has many recreational facilities, like the Belmont Children's Farm, where families can meet and enjoy a ride on tractors.
Most people, especially celebrities, also move away from London to settle with their families in suburbs like Barnet. This town is ranked as one of the top places you can live for quality of life. It has good transport and communication links, making it one of the most preferred places to own property.
Barnet may look like an expensive place to live. The property prices in this borough in the farthest northeast of London are very high. The increasing rental demand in London is due to the increasing investment in this town.
When buying property in Barnet, you should hire a conveyancing solicitor to guide you. A conveyancer will ensure your move to Barnet is swift and save you time and money when buying property for the first time.