Islington’s location near to the City makes it a magnet for professionals such as lawyers and bankers. Due to increased popularity, prices in the area have risen by 21% in the Borough of Islington according to the latest Land Registry figures, with the average property price now costing £648,290. The area is home to a variety of property styles including Victorian, Georgian and new build. A one bedroom period conversion flat, perfect for any first time buyer or young professional, can usually be bought for around £500,000, while a three to five bedroom family house typically costs upwards of £1.5 million.
Islington is split into several desirable areas, with Barnsbury and Canonbury being the most popular. There are plenty of green, leafy roads and squares including Canonbury Park North and South, Duncan Terrace, Highbury Place, Upper Street and Richmond Crescent. These roads are considered highly sought after amongst our buyers and tend to fetch a premium of around 10% compared to others nearby.
The demographic in Islington is a mixture of young city workers and families and with its good variety of period properties, local amenities, cafes, restaurants and gastro pubs, many happily settle down here for years. Islington also has excellent transport links, in particular the London Underground station offers many options for commuters – Angel station on the Northern line, Caledonian Road station on the Piccadilly line and Highbury & Islington station on the Victoria line – which gives it fantastic access into the City and West End. There are also Overground stations from Highbury & Islington station and Canonbury station, providing links to Shoreditch and Canary Wharf.
Islington and its surrounding areas will soon attract more attention, as there is currently large scale regeneration underway at Kings Cross station. When complete, the newly developed area will be so large that it will have created its very own postcode - N1C. The scheme will offer 50 new buildings, 2,000 new homes, 20 new streets and 10 new public squares providing space for 45,000 people within 8 million sqft of land.
Dan Saunders, Lettings Manager at our Islington branch, comments: “Tenants in Islington also have a good selection of popular areas to choose from. Upper Street, considered the heart of Islington with numerous bars, restaurants, boutiques and popular high street retailers is highly sought after. In addition, Highbury Place, Highbury Crescent and Highbury Terrace are also desirable as they overlook Highbury Fields and are a stone’s throw away from the Highbury & Islington tube station.
“The area also has numerous squares with beautiful Georgian properties ideal for families and young professionals alike - Gibson Square, Milner Square, Lonsdale square and Canonbury Square – all of which offer private gardens. For those looking to rent a one to two bedroom flat in Islington, the average prices per week range from between £360 per week and £480 per week, while the price of a four bedroom property typically costs around £850 per week. The good news for landlords and investors in this area is that in the last year we have seen a rise of between 10% and 15% in average rental prices and while these prices look to be stabilising, demand looks set to soar as the popularity here rises.”
If you are looking to buy, sell, let or rent in the area, contact our Islington branch today.