Islington Property Market - December 2023
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. ??
Happy New Year dear reader! Do you feel those New Year resolutions? I am launching my biweekly newsletter 'Littorin Means London' here on LinkedIn on Monday 8th. Discover London living with me: property sales tips, neighbourhood insights, and making your new home yours. Meanwhile, in Islington's N1, N5 and N7 market, property sales are taking a 'break'. This is your property market newsletter, featuring my Islington Sales Collection and Bricks&Logic maps. Enjoy!
Jacob x.
December compared with November
?? Available Properties: 1,037 - down 12.3% from 1,182 in Nov. ??
?? New Instructions: 160 - down 17.4% from 193 in Nov. ??
?? Sales Agreed: 79 - down 51.6% from 161 in Nov. ??
?? Price Reductions: 62 - down 58.4% from 149 in Nov. ??
?? Listed for More Than 12 Weeks: 1,216 - down 0.8% from 1,228 in Nov. ??
?? Average Daily Views per Property: 57 - down 9.5% from 63 in Nov. ??
Sales agreed were down 51.6%! In the November update, that percentage was instead up 45.9%. Price reductions also fell 58.4%, meaning little action was taken to adapt marketing and pricing. This means that many went into holiday mode during December.
Visit my Islington Sales Collection to search for exciting property sales agreed in N1, N5, and N7 during December. Perhaps your street is on this month's list?
The most expensive properties sold during December were two terraced houses, which both had a sale agreed at ￡2,500,000. The first is a 5-bedroom on Northchurch Road in De Beauvoir, N1 3PA. The second is a 4-bedroom on Holmcote Gardens in Highbury, N5 2EP.
Hey you! Dear reader, if you are selling during January or thinking about selling, know this: your property is only worth what a buyer is willing to pay for it. Mortgage rates, property availability, and other economic factors such as base rate affect buyer motivation. This is why buyers need to be motivated to buy YOUR property.
Think about it: how can you raise buyer motivation so that they are willing to offer at the price the market and comparable property sales support?
The answer is PRESENTATION.
If your property looks rubbish, why do you think anyone would purchase it? Commit to do a deep clean. If you have an excess of items, get moving boxes and put away as many items as possible. Get rid of too personal items such as an overload of family photos and religious items. This is the first step in selling, as you present the property for THEM, not for yourself. ??
~ Eila East
领英推荐
December 2023 to 2022
?? Available Properties: 1,037 - down 4.2% from 1,083 in 2022. ??
?? New Instructions: 160 - up 33.3% from 120 in 2022. ??
?? Sales Agreed: 79 - up 8.2% from 73 in 2022. ??
?? Price Reductions: 62 - up 5.1% from 59 in 2022. ??
?? Listed for More Than 12 Weeks: 1,216 - down 0.2% from 1,218 in 2022. ??
?? Average Daily Views per Property: 57 - up 7.5% from 53 in 2022. ??
Bricks&Logic Sale Prices
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 going up.
Islington is now appreciated more than many parts of Greater London, and has a sales change of upwards 2%, when many areas of central London went down in sale prices (blue colour).
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.