Hendon is one of North London’s most popular residential locations. It’s got something to offer homebuyers of all ages, with a shopping centre, local amenities, great transport links, and a wealth of green space to enjoy.
House prices are rising steadily here, which isn’t surprising considering its desirability. If you want to buy a property in Hendon, it’s worthwhile purchasing sooner rather than later, as prices are likely to increase in the future.
Here’s a run-through of average house and apartment values over the last year.
Hendon house prices in the last year – an overview
RightMove’s most recent figures show that an average property in Hendon was priced at £652,552 over the last year. Sales of apartments dominated the market, and these sold for an average cost of £360,579.
Semi-detached and detached properties were also sought-after, with their average prices being £755,607 and £1,427,023 respectively.
Overall, this marks a considerable increase on the previous year - of 10%.
A brief history
Hendon’s property prices have grown steadily in the last twenty years. They took a slight dip during 2019, then picked up again in 2020, despite the fact that the country was in the midst of a pandemic.
This demonstrates the area’s continued popularity, and highlights homebuyers’ shifting priorities. For example, experts have noted elevated buyer interest in properties with outdoor space, or in homes which are close to parks and nature reserves – and greenery is something Hendon offers in abundance.
Average prices – by property type
According to one set of data, property prices rose by the following amounts from May 2020 to May 2021:
- Detached homes: Currently £1,805,672 (from £1,679,802) – an increase of 7%
- Semi-detached homes: Currently £919,871 (from £824,260) – an increase of 12%
- Terraced properties: Currently £797,264 (from £769,674) – an increase of 4%
- Apartments: Currently £529,054 (from £497,922) – an increase of 6%
Semi-detached properties have experienced the biggest jump in price. This is due to the fact that Hendon is well-known as a family-friendly area, with several high-performing schools nearby. Families often gravitate towards the semi-detached homes, as they offer plenty of space, multiple bedrooms, and often a driveway and garden too.
What factors are influencing the market?
Homebuyers are increasingly seeking out properties that come with gardens and an additional area to use as an office, as many people now work from home. These sorts of homes are in plentiful supply in Hendon, which explains why the location is so sought-after.
The regeneration of West Hendon is another factor that’s influencing prices. This will bring 2,000 new homes to the area, plus new shops, public facilities and much more. The redevelopment project will also improve connections between the residential zones and the Welsh Harp, a 340-acre nature reserve.
Buying a property in Hendon
If you’re thinking of buying a home in Hendon, now is the time to start looking. Most experts agree that prices will continue to climb over the next few years, which means, if you purchase a property this year, it’s likely to be a good investment.
To find out more about Hendon’s property market, get in touch with our team today.