The start of 2014 has seen an increase in buyers registering in North London by as much as 47% compared to the same time last year. Demand for properties in the area is overwhelming available stock levels, pushing prices even higher. With such stiff competition from all sides, open days are a common occurrence and in most cases, mean that one property receives multiple offers. This often leads to buyers competing against each other, resulting in best and final bids, where the property will often achieve well above asking price. Recently we’ve found that some buyers are hesitant where open days are concerned, so we have adapted our usual process by offering preview viewings during the week, prior to the open day. This allows us to spend more time with each individual buyer on their visit, and which essentially offers peace of mind for what is often the biggest purchase in someone’s life.
Properties in the area tend to be in constant demand, mainly because they’re located in highly sought after school catchment areas and are surrounded by a number of beautiful parks and green open spaces. Muswell Hill benefits from a number of well-regarded schools, like Tetherdown School, Muswell Hill, Coldfall and Rhodes Avenue Primary Schools and all offer an exemplary education. Properties in Muswell Hill are often large four to five bedroom Edwardian and late Victorian houses and prices start from around £1.2million. Despite the high prices for family homes, we still have a strong first time buyer market, and one bedroom flats typically start at around £350,000.
Prices in Muswell Hill have risen quickly in the last two years. Last year we started marketing a four bedroom Edwardian house on Clyde Road for £875,000, which we sold a few weeks ago above asking price, for £910,000.
Despite being a popular place for central London commuters, Muswell Hill is not on the tube network and nor does it have an overland station, which many see as a positive aspect, appreciating its relative seclusion and peacefulness. Despite this, it’s still very accessible and most commuters can reach London by bus, with direct routes both to the City and the West End. The nearby Overland trains from Alexandra Palace or Hornsey, take 20 minutes into Moorgate or Kings Cross, which is ideal for young professionals.