Recent Listing – Derwent Avenue, East Barnet – Contemporary 3 Bed Semi Det Bungalow – £899,950
Barnet & Whetstone Property Market Update – November 2024
By Poppy Richards – Hunters Estate Agents
Barnet Set for Busy Run Up To Christmas
Hunters Estate Agents in Barnet and Whetstone, North London, have been trusted by local people to help them buy, sell and rent their homes for over 30 years. During this time we’ve experienced just about every high and low the local property market seen.
Our experience gives us a fantastic insight and understanding of the North London property market, which we enjoy sharing in our monthly property market updates.
Buoyant End of Year Market Predicted
With last month’s budget uncertainties now behind us, the Bank of England slowly reducing the base interest rate and mortgage interest rates continuing to come down, the local Barnet and Whetstone property market has seen an increase in activity not normally seen at this time of the year.
This surge in market activity, especially the unexpected rise in buyer demand, has been primarily fuelled by the release of pent-up demand accumulated during the previous pre-budget uncertainty. The result is the that number of sales being agreed is 26% ahead of the quieter market at this time in 2023, according the Rightmove’s House Price Index.
The increased activity is not isolated to buyers, we have also seen the number of new sellers deciding to put their property on the market up 6% ahead of the same period a year ago.
The relatively low impact of the budget on the local property market does seem to have given the green light to both local buyers and sellers looking to make a move.
This is welcome news for house hunters who now feel more motivated to resume their search. Many market commentators are predicting the boost in buyer confidence will result in the property market being busier than expected in the run-up to Christmas.
Busiest Day of The Year
Whilst some clients have already started marketing their homes following the uneventful budget, others see the Boxing Day rush, the busiest day of the year for home movers according to Rightmove, as the perfect launch pad for a New Year move.
Now is a great time to organise a Boxing Day launch to start your next home move. We can prepare sales details, arrange for photos, floor plans and EPCs and have your home ready for the big launch on Boxing Day…
Queen Elizabeth’s School Admissions
The prestigious Queen Elizabeth boys school admissions will be confirmed in March 2025, for parents of those boys lucky enough to secure a place at the number one ranked grammar school in the country, who plan to move closer to the school, now is a great time to market your property in Barnet if you are considering selling.
A selection of Recently Listed Homes From Hunters
Here are just a few of our most recently listed properties for sale from our Barnet and Whetstone offices –
Apartment for Sale – Woodside Park – £799,950
House for Sale – Barnet – £650,000
Bungalow for Sale – Barnet – £650,000
House for Sale – New Barnet – £625,000
House for Sale – London – £585,000
To see the very latest homes coming to the market, click ‘New to market homes’, this lists all of the very latest homes as they come to the market.
See our ‘Recently Sold Properties’.
Mortgages
The Rightmove weekly mortgage tracker shows that mortgage rates are largely unchanged this week, which is good news for home-movers. The stability is reassuring for movers, helping buyers with longer term planning and monthly mortgage affordability. Looking a bit deeper, the last remaining sub-4% rates have now been removed by lenders, reflecting increases in swap rates over the last few weeks. The cheapest rates available are now 4.06%, at both 60 and 75% Loan-To-Value (LTV).
If you are considering a move, It is more important than ever to shop around for the best deals and remember that not all deals are advertised, some of the best deals are only available from mortgage brokers.
Contact mortgage advisors Simpson Bowers, a firm of local independent financial advisors on 020 8275 8555 www.simpsonbowers.co.uk I can highly recommend them as they have helped many of our clients, including myself.
Ready for a Winter Move?
Please feel free to call me at our Barnet office or Elliot at Whetstone if you are considering selling your home in the Barnet and Whetstone areas, either for an informal chat about the market and how we might help you with this or to book a market appraisal.
You can also use our Instant Online Valuation tool.
Good luck with your house hunting.
Poppy Richards – Hunters Estate Agents
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