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Holloway House Prices 2022: How have Holloway House Prices Changed?

almost 2 years ago
Holloway House Prices 2022: How have Holloway House Prices Changed?

Holloway has always been renowned for the 2-mile-long Holloway Road that runs through the area. It hosts the third largest concentration of independent retailers in London and the wide variety of shops reflects the diverse nature of the community attached to it. Thanks to ongoing regeneration work in recent years, what was once an underrated part of Islington is now one of the most up-and-coming areas in North London.

The changing face of Holloway

Arsenal Football Club Headquarters are located just off Holloway Road in Drayton Park and the club have played a big part in the transformation process. 2,500 new homes were built and refurbished as part of their move to Ashburton Grove. Youth has been provided for too, the construction of Chapter Highbury II (a sister site to 309 Holloway Road), which stands at over 13 storeys and houses 257 student accommodation units.

Plans are also in motion to transform the former Holloway Prison site into a 985-home development, which would include 60% affordable housing and 415 homes let for social rent. If approved, the development will include parks, private gardens and over 2,000 cycle spaces.

Holloway house prices over the past 12 months

Investing in property in Holloway could offer steady returns for homeowners and landlords in 2022. Prices were 11% up on the 2017 peak of £614,000, with the hope that it could increase further over the next 12 months.

The average property price in Holloway stood at around £679,000 for the past year. Flats were the most popular property type, selling for an average of £527,000. As you would expect for properties in Islington, terraced houses tend to be more expensive, with average sale prices reaching £1,247,000 during the same period. Semi-detached houses had the highest price tag, selling for an average of £1,296,000.

Holloway house prices in 2022

As of April 2022, the average asking price in Islington was £771,669, up 1.3% from the previous month and 5.1% on April of last year.

This is reflective of trends right across the UK, with house prices setting new records for the third consecutive month. Average asking prices stood at £360,101, an increase of 9% from the same time last year.

Asking prices across London continue to reach record highs as more people return to city life post-pandemic. This is coupled with limited availability of housing stock in the capital, which means properties are selling faster than they have in the past year.

In April 2021, on average it took 64 days to find a buyer, a figure that has decreased further to only 51 days in 2022, which is a rapid turnaround.

The housing market is moving at a high speed, so it remains a seller’s market and increases the chances of a faster sale and quick purchase, which removes a lot of uncertainties and stress that come with a slower market.

While changes to the economic landscape will impact the housing market over the next 6-12 months, Holloway is likely to remain in a strong position and offer stable opportunities for both buyers and sellers.

(Photo Credit: Julian Walker)

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