There’s no denying that the changes being made to Hendon has transformed the way people look at the area. With the huge £5 billion Brent Cross Town project well underway and due for completion in 2027, Hendon’s profile is on the rise, making it a property hotspot in North West London.
Thousands of new properties are being built along with 50 acres of green space and workspaces that will accommodate up to 25,000 people. As new investment continues to flood in, locals will benefit from improved transport links to aid their commutes, while also making it easier for students to attend the many high calibre schools in this part of London. There’s already a lot to love about Hendon and even more to look forward to and plenty of opportunities for potential buyers and sellers.
Hendon house prices over the past 12 months
As the property market begins to stabilise after an uncertain 12-18 months caused by the pandemic, it is a widely held belief that 2022 will be much more positive for buyers and sellers alike.
Last year, average house prices in Hendon were generally similar to those of 2020, with flats being the most purchased property type. Buyers paid an average of around £377,000 for flats, while semis and detached homes averaged at around £758,000 and £1,429,000 respectively.
The government’s stamp duty exemptions helped to keep sales ticking over in 2021, which ensured properties continued to sell at a consistent rate in Hendon. So, while sold prices remained at the same level as 2020 figures, overall, prices were 9% up on the 2017 peak of £584,000.
Hendon house prices in 2022
Based on data from the last quarter of 2021, there is a lot to look forward to on the property market this year. For people looking to sell their home in London, prices are expected to rise by at least 3-5% over the next 12 months and with more buyers returning to the capital as pandemic restrictions are lifted, there should be a significant rise in enquiries. Estate agents in London recorded the biggest annual jump in enquiries in any region, rising by an impressive 24% year on year.
The regeneration of the West Hendon could provide some of the best value in the area once completed. More than 2,000 new homes are also being built on the banks of the Welsh Harp Reservoir, which will prove to be an attractive option for first-time buyers looking to get on the property ladder this year.
Looking back over the past few decades, Hendon’s property market has remained stable and reliable, and as things return to normal, there is every reason to think that will still be the case for the foreseeable future. While the unexpected effects of the last 18-24 months should provide some caution, given the changes happening in Hendon and nearby Barnet, investment prospects are currently looking very good.