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Islington is one of the most vibrant parts of London, with a thriving economy, diverse population and a unique identity as a cultural hotspot.
The borough is home to two London universities, as well as the iconic Arsenal Football Club. However, if you are looking to move home in Islington, what can you expect when selling your property?
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Looking to sell your Islington home?
The London Borough of Islington has seen a 17% increase in property prices in the last year alone. In the last decade, property has risen more than 152% when properties cost £438,912 on average in the borough. Today, the average property will set buyers back an average of £1,082,370.
Terraced properties, which are most in demand in the area, will cost £2,111,390 on average, while semi-detached properties, of which there are few available on the market, will cost just shy of £3,000,000 on average.
Flats are currently the only property type in the area that will sell on average for less than a million pounds (£955,466).
Looking to rent your home?
If you are moving away from the area but looking to rent out your property, you can expect to achieve an average monthly rent of £2,477.
Four to five bedroom properties are most in demand for the area and will generally achieve £3,823-£4,632 PCM in Islington.
If you'd rather rent out singular rooms, each bed you can accommodate should achieve around £946 per month.
Flats are also in good demand for the area and will bring in an average monthly income of £2,430 when rented out to tenants, while houses can make £3,670 per month.
Buyer demographic in Islington
The London Borough of Islington is most popular among young single professionals, with particular interest from those in business and the media. The average age of people coming into the area is 35.
The majority of people moving into the area were born in England, but the borough is also popular with people from Ireland, Scotland and South America.
Due to its close proximity to the City of London, contracts for property in Islington will normally be completed within 75 days of first being advertised.
Terraced homes are most in demand for the area, and will often see the selling process completed within 65 days. This is primarily due to terraced properties taking up a small section of the local property market. On the other hand, 85% of properties advertised for sale in the area are flats, which are still sold within 75 days.
Similar locations to Islington
Islington is a truly vibrant location with plenty to do and see. In fact, there are more restaurants in the borough than there are days of the year. If you are looking for a similar vibe with just as much to do, you might want to consider moving to Camden. If you want a bit more peace and quiet, but still remain within London, you should consider Barnet or Enfield as possible moving destinations.
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