Camden property prices fell slightly, despite house price inflation nationally - Hampstead and Highgate Express

Camden property prices fell slightly, despite house price inflation nationally – Hampstead and Highgate Express

Despite the overall growth in property price in the UK, the Camden area of
London is suffering a lowering of values. This could be due to the overall
higher than average London housing values, a trend toward downsizing or
even the recent BREXIT. One other major factor is the ability to make the down
payment on such a costly item. Between the actual property cost and the stamp
duty, it becomes a very costly endeavor to purchase a home for young people.

Key Takeaways:

According to the House Price Index, property prices in Camden fell 1.6 percent from March to April of this year.
The drop can be attributed to local real estate agents suggesting that moderately lower prices will attract more buyers.
Camden’s average house price is £814,188, which is higher than London’s average of £483,000.

“In April 2016 the 3 per cent surcharge for second homes saw a surge followed by a sharp drop off in property purchases in Camden.”