While reading the article on today’s Guardian about the increase of repossessed houses in the UK I asked myself what was the situation of the house market in N4. The prices went up quite a lot in the recent years and luckily I bought my flat in 2005 when the market was “quiet” and buy-friendly one.
Googling around (I love this expression) on UpMyStreet I found a graph showing the situation in our area until end of 1Q07:
Impressive, the prices in average from when I bought to now went up of £50K, equal to a jump of 20% in two years; +10% a year.
Checking the Land Registry web site I found a breakdown of the property prices for 2H06:
|Data of final update: 02/02/2007|
|Region/Area||Av Price £||Sales||Av Price £||Sales||Av Price £||Sales||Av Price £||Sales||Av Price £||Sales|
|Found 4 records. Displaying page 1 of 1.|
Playing more with UpMyStreet, I started comparing N4 with the other postcode areas (N5, N7, N8, N15, N16 and N19) around us.
Well, from those graphs we can see that N4 grow is in line with the rest of the north area of London.
However to buy a property nowadays it’s very expensive and very difficult for first time buyers. No wonder if some are stretching themselves and some get repossessed their homes.