Islington house prices rise £30k during Covid-19 pandemic year
- Credit: PA
The Covid-19 pandemic hasn't inhibited house prices in Islington - they've risen more than £30,000 in a year.
That's in line with the London and national trends, but very different to the case in neighbouring Camden, which saw prices fall significantly between April 2020 and April 2021.
According to national data, the average property sold in Islington cost £673,362 in April this year - which is the most recent month with available data. That's up £32,690.
Conversely, in Camden, prices have fallen £50,892 over the year of the Covid-19 crisis. Across the border prices remain on average substantially higher - at £812,624 - and across London boroughs with homes at the top end of the price range have been hit by slumping prices.
In Haringey, there's been a slight increase in house prices, while in Hackney prices have risen by £23,065 to £599,308.
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Haringey's average house price in April this year was £561,253. That's £18,283 more than a year before.
In Islington - like the majority of its neighbours - prices have actually fallen slightly compared to March. This is thought by industry experts to be a result of the stamp duty holiday on purchases initially being set to end at the conclusion of that month.
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The numbers come from the UK House Price Index which is released by the Land Registry and the Office of National Statistics (ONS) on a monthly basis.
Estate agent Dexters told this newspaper it was "experiencing high levels of demand" across its north London offices.
Nationwide the UK's average prices are £20,000 up on a year ago.
Another local estate agent, Jeremy Leaf, said: "Looking forward, our experiences on the ground tell us that market activity is set to continue at similar levels at least for the next few months, although increasing sales instructions will result in some price softening rather than a correction.”
ONS statistician Sam Beckett said: “House prices continued to increase when compared with last year, with London once again showing the lowest annual growth, with the slowing of prices most apparent within inner London boroughs."