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How Have Property Prices Changed in Holloway?

How Have Property Prices Changed in Holloway?

Over the last few years, Holloway has been marked as one of London’s property investment hotspots. This upcoming area has plenty to offer buyers of all ages; excellent transport links, good schools, and lots of local amenities.

There’s also a wide range of properties on the market; from stunning Beaux Arts homes, to spacious Victorian terraces; many of which have been divided into affordable apartments. If you’re keen to invest in Holloway, here’s some information about how property prices have changed over the recent years.

Holloway property prices – an overview

Holloway’s popularity has soared in the last decade. This is reflected by the number of developers operating in the area; with well over 2,000 new homes having been built since 2006.

According to the Land Registry (last updated December 2019), an average property in Holloway currently sells for £826,792. This is based on the most recent month’s sales figures (at the time of writing). Note also that this figure includes sales of large multi-bedroomed homes and smaller apartments.

The average price over the last twelve months is appealingly reasonable; with houses costing around £597,662. This still marks considerable growth – in December 2018, this figure was £435,214.

A breakdown of property types

Unsurprisingly, the larger houses command the highest prices. A four-bedroomed home will typically cost between £650,000 to £1.5m. The Land Registry states that an average price for any house in Holloway (including those with more than four bedrooms) is £1.6125m. A year previously, the average cost was £772,500.

Apartment prices haven’t changed quite so dramatically – which is useful for investors to know. Land Registry data states that the average price for an apartment in the area is £512,510; whereas the year before, it was £435,214.

As for other properties on the market? A three-bedroomed home currently sells for around £450,000 to £1m, while a two-bedroomed house usually goes for £375,000 to £950,000. One-bedroomed homes sell for £160,000 to £499,950. All of these are increases on the previous year – a trend which matches the rest of the capital.

How does this compare with other London locations?

It’s important to remember that average Holloway property prices have always been skewed upwards, due to the fact that some are unusually large (and are naturally a higher value). In reality, there are several affordable options on the market, which is great news for homebuyers and landlords alike.

Holloway is also appealingly priced compared to neighbouring areas. For example, Highbury’s average property price is £736,991, which is considerably higher. Likewise, Barnsbury’s is £817,111 – again, much more expensive.

What does the future hold for Holloway’s property prices?

Of course, COVID-19 has impacted the market, and very few sales are being made at present. However, most experts agree that this is only temporary, and some even predict a surge in sales once the lockdown is relaxed.

In light of this, it seems likely that prices will remain stable, or even rise. If you’re considering investing in Holloway, it makes sense to do so soon, rather than leaving it until later – as prices may well go up further in the future.

Photo Credit: David Howard

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