Ongoing regeneration of Mill Hill East has attracted a lot of attention in Northwest London, as Barnet council continue to deliver on their investment promises. The Millbrook Park scheme is transforming over 40 hectares of disused brownfield land where Inglis Barracks once stood, with the target of delivering 2,240 new homes, upgrades to local transport services, a new primary school and a host of other key improvements.
Even before the start of the current regeneration process, Mill Hill had become an attractive proposition for house hunters. Mill Hill East underground offers a straightforward commute into King’s Cross, Euston and central London, and the Kennington extension being built on the Northern line will make things even easier. Local schools are of high calibre and the array of amenities available in the area ensure residents have everything they need close to hand.
Mill Hill House prices over the past 12 months
Even in uncertain economic times, property remains one the most sensible areas of investment, whether you are a buy-to-late landlord or simply looking for a new home. The signs are good for an improved housing market in 2022 and with spring one of the most popular times of year for purchasing a property, there are a lot of opportunities to take advantage of.
Over the past 12 months prices have increased by around 6% compared to the previous year, with the overall average price standing at £748,000. Most of these sales were semi-detached houses which sold for an average of £755,00.
Flats were the next most popular property type, which averaged out to about £435,000. At the more expensive end of the spectrum, detached homes went for an average of £1,436,000, and these typically feature 4-5 large bedrooms, spacious interiors, private driveways and expansive garden areas as standard.
Mill Hill house prices in 2022
Due to the regeneration happening in Mill Hill, it has become one of the best places to make an investment in Northwest London. The arrival of over 2,000 new homes over the coming years will help to appreciate the value of the area as whole, which means sellers are in a good position. That also means anyone buying a property in the area stands a good chance of increasing the value of their investment as the development continues to progress.
Its location in the green belt is a draw for anyone who wants to get away from the hectic nature of central London. Properties are generally more spacious here too, so remote workers in need of high-quality housing that can provide home office space will see the area offers the chance of a fresh start.
Of course, it is difficult to predict how the housing market will develop will complete certainty as the past few years have thrown up several unexpected surprises. But as it stands prospects are looking very good for sellers and buyers alike, so there is much to remain optimistic about for the remainder of 2022.