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Barnet is the second largest borough in London by population, and has become a favourable moving destination for families and older generations wanting a taste of countryside in London. But if you’re looking to move from Barnet, what can you expect when selling your home?
Looking to sell your Barnet home?
The North London borough has seen a massive rise in asking prices over the last 10 years – so much so that you can expect to ask for double what you could have in 2006. The average asking price for a property is currently £1,298,377. Flats make up the lowest average asking price at £425,000.
Two bedroom semi-detached houses are most in demand in the area, with an average price tag of £676,154. Four to five bedroom detached homes are the among the most advertised properties in the area, and will also spend the most amount of time on the market.
Looking to rent your home?
If you are moving away but looking to rent out your property, you can expect to receive an average income of £2,190, with two bedroom properties most in demand on the rental market for Barnet.
Singular rooms are least in demand for the area and will achieve a monthly income of around £645, while flats achieve a figure in the region of £1,336 per month.
Houses are most in demand in Barnet and will achieve a monthly income of £3,617.
Buyer demographic in Barnet
You should likely expect to receive interest from older families and over 65s when advertising your home in Barnet. The borough is home to a diverse population of people, including the largest Jewish population in the UK.
Transport is a little more limited than the rest of London, so areas linked to the Underground line (Northern and Piccadilly lines) are among the most desired areas in Barnet.
Although higher than the UK average, properties in Barnet will generally spend longer on the market than other boroughs in London. The average time on the market you would expect is 115 days – this is either when the property is sold or under offer.
Similar locations to Barnet
Barnet is a really unique borough, grasping both worlds of London life and the countryside together in one area. If you’re looking to move to somewhere with a similar feel, you may want to consider living in the neighbouring boroughs of Harrow or Enfield.
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