The average Barnet house price in November was £581,265 – a 0.3% increase on October – reports Sonja Tutty, Data Reporter

A collage of housing sale signs, with two reading "For Sale" in the foreground and one reading "Sold" in the background — Over the last year, the average sale price of property in Barnet fell by £13,000 – (Credit – Radar)

House prices increased slightly, by 0.3%, in Barnet in November, new figures show.

But the rise does not reverse the longer-term trend, which has seen property prices in the area suffer a 2.1% annual decline.

The average Barnet house price in November was £581,265, Land Registry figures show – a 0.3% increase on October.

Over the month, the picture was different to that across London, where prices decreased 2.2%, and Barnet was above the 0.8% drop for the UK as a whole.

Over the last year, the average sale price of property in Barnet fell by £13,000 – putting the area 15th among London’s 33 local authorities with price data for annual growth.

The highest annual growth in the region was in Richmond, where property prices increased on average by 4.2%, to £778,000. At the other end of the scale, properties in City of London lost 27.7% of their value, giving an average price of £727,000.

First steps on the property ladder

First-time buyers in Barnet spent an average of £473,800 on their property – £7,500 less than a year ago, but £29,600 more than in November 2018.

By comparison, former owner-occupiers paid £680,800 on average in November – 43.7% more than first-time buyers.

Property types

Owners of flats saw the biggest rise in property prices in Barnet in November – they increased 1.3%, to £413,209 on average. Over the last year, prices dropped by 0.5%.

Among other types of property:

Detached: down 1.9% monthly; down 5% annually; £1,412,314 average
Semi-detached: down 0.4% monthly; down 3% annually; £827,488 average
Terraced: down 0.1% monthly; down 2.7% annually; £623,730 average

How do property prices in Barnet compare?

Buyers paid 15% more than the average price in London (£505,000) in November for a property in Barnet. Across London, property prices are high compared to those across the UK, where the average cost is £285,000.

The most expensive properties in London were in Kensington and Chelsea – £1.1 million on average, and 1.9 times the price as in Barnet. Kensington and Chelsea properties cost 3.2 times the price as homes in Barking and Dagenham (£354,000 average), at the other end of the scale.

The highest property prices across the UK were in Kensington and Chelsea.

Factfile

Average property price in November

Barnet: £581,265
London: £505,283
UK: £284,950

Annual change to November

Barnet: -2.1%
London: -6%
UK: -2.1%

Highest and lowest annual growth in London

Richmond: +4.2%
City of London: -27.7%

No news is bad news

Independent news outlets like ours – reporting for the community without rich backers – are under threat of closure, turning British towns into news deserts.

The audiences they serve know less, understand less, and can do less.

If our coverage has helped you understand our community a little bit better, please consider supporting us with a monthly, yearly or one-off donation.

Choose the news. Don’t lose the news.

Monthly direct debit

Annual direct debit

£5 per month supporters get a digital copy of each month’s paper before anyone else, £10 per month supporters get a digital copy of each month’s paper before anyone else and a print copy posted to them each month. £50 annual supporters get a digital copy of each month's paper before anyone else. £84 annual supporters get a print copy by post and a digital copy of each month's before anyone else.