Islington Property Market - January 2024
Jacob Littorin MNAEA
Swedish Personal Estate Agent in Islington, London ???? Discover how to sell and buy an Islington, London home on #LittorinMeansLondon. Follow me @jacoblittorin across all social media. ??
The first month of 2024.. that was fast! Let's dive right into how the property market in N1, N5, and N7 performed compared to December, and January 2023. Enjoy!
Jacob x.
January 2024 compared with December 2023
?? Available Properties: 1,132 - up 9.4% from 1,037 in Dec. ??
?? New Instructions: 237 - up 48.1% from 160 in Dec. ??
?? Sales Agreed: 178 - up 125.8% from 79 in Dec. ??
?? Price Reductions: 108 - up 74.2% from 62 in Dec. ??
?? Listed for More Than 12 Weeks: 1,232 - up 0.8% from 1,216 in Dec. ??
?? Average Daily Views per Property: 86 - up 50.9% from 57 in Dec. ??
Way more new instructions, way more sales agreed, and way more average views. However, you have to price your property right. Consult with your property advisor.
Visit my Islington Sales Collection to search for exciting property sales agreed in N1, N5, and N7 during January. Perhaps your street is on this month's list?
The most expensive property sold during January was a 5-bedroom, 2,407 sqft, Freehold semi-detached house on 50 Canonbury Park South, N1 2JG. Its asking price was ￡4,500,000.
Hi! Would you want to make an informed decision when offering to purchase a property? Look, every buyer wants (and needs) to feel motivated - which comes through being informed. Soon, new National Trading Standards legislation will make it mandatory for all estate agents to provide more property information when listing a property for sale. As the seller of your property, why not take a step further and instruct a surveyor early on, as part of your power team?
As a Property Advisor, my advice to you right now this February, is to instruct a Chartered Surveyor before you have a sale agreed. Provide all buyers with clear data they need to make an informed decision. The reward? You are highly likely to exchange contracts and conclude the sale way quicker.
~ Nash North
January 2024 to January 2023
?? Available Properties: 1,132 - down 4.7% from 1,188 in 2023. ??
?? New Instructions: 237 - down 8.4% from 258 in 2023. ??
?? Sales Agreed: 178 - up 47.1% from 121 in 2023. ??
?? Price Reductions: 108 - down 21.7% from 138 in 2023. ??
?? Listed for More Than 12 Weeks: 1,232 - down 0.3% from 1,235 in 2023. ??
?? Average Daily Views per Property: 86 - up 42.9% from 80 in 2023. ??
Slightly less stock (available properties), but look at the new instructions and sales agreed - huge differences. It's a promising market, where fewer sellers are reducing their asking prices, and more buyers are viewing properties.
The change in sale prices (sales agreed and live listings), as a percentage, over the last 6 months from 05/12-2023. Islington prices are still going up - as they have been for months now. Central London is however experiencing decreasing prices.
My name is Jacob Littorin, and I am your Personal Estate Agent in Islington. My mission is to get you the best deal and the smoothest process when you sell your property, in what might be the biggest transaction of your life. ??
Subscribe to this newsletter, and follow me and my show Littorin Means London on my socials to find out how you can sell your Islington home:
*Data source: Rightmove. Data showing resale & new build detached houses, semi-detached houses, terraced houses, unspecified houses, flats/apartments, bungalows, and land. Map source: Bricks&Logic.