Islington Property Market 📊 August 2023
- Jacob Littorin
- Sep 3, 2023
- 3 min read
Updated: May 22
The first day of Autumn and if you are considering moving, already have your property on the market, or are simply interested in what's going on - these are the Islington statistics for August in the postcodes N1, N5, and N7. Enjoy!
Jacob x.
August 2023 compared with 2022
The Islington property market has seen fewer available properties, while new instructions have declined, and sales remained stable - showcasing continued buyer interest. Sellers demonstrated flexibility with slightly more price reductions.
🟪 Available Properties: 1,257 - down 3.4% ⬇❌
The number of available properties for sale has decreased by approximately - 3.4% compared to August 2022 when there were 1,301 properties on the market.
🟪 New Instructions to Sell: 239 - down 11.5% ⬇❌
There were - 11.5% fewer agent instructions this year compared to August 2022, which saw 270 new properties come into the market.
🟪 Sales Agreed: 155 - up 3.3% ⬆✅
The number of sales agreed remains stable, up 3.3% compared to August 2022 where 150 successful sales were agreed.
🟪 Price Reductions: 145 - up 1.4% ⬆❌
Around 1.4% more properties had its asking price reduced this month compared to August 2022 when there were 143 properties with adjusted prices.
🟪 Properties Marketed for More Than 12 Weeks: 1,247 - down 13% ⬇✅
In July last year, there were 1,450 properties. That is - 13% fewer properties this year.
The average time on the market in and around Islington is currently 245 days (approximately 35 weeks). The average daily views per property is 57.
August 2023 compared with July 2023
There was a notable increase in available properties, signifying interest and a 'need' to sell which resulted in slightly more new instructions to sell. There was a substantial increase in properties listed for more than 12 weeks, while price reductions are up, suggesting that certain offer prices may need to be adjusted to a changed market.
🟪 Available Properties: Up 20.7% ⬆✅
From 1,042 (July) to 1,257 (August), representing a growing inventory of properties on the market.
🟪 New Instructions to Sell: Up 3.5% ⬆✅
From 231 (July) to 239 (August) - there is continued interest from sellers in the market.
🟪 Sales Agreed: Up 24% ⬆✅
From 125 (July) to 155 (August) - a notable uptick, indicating a more active market.
🟪 Price Reductions: Up 4.3% ⬆❌
From 139 (July) up to 145 (August) - which may indicate sellers' willingness to adjust in response to the market.
🟪 Properties Marketed for More Than 12 Weeks: Up 57.8% ⬆❌
From 791 (July) up to 1,247 (August) - a substantial increase in properties, suggesting a prolonged market presence for certain properties.
🟪 Average Time on the Market: Down 0.4% ⬇✅
From 246 (July) to 245 (August).
If you are thinking about moving, or need to move, now is a good time to sell - with more properties coming onto the market and 24% more sales agreed compared to July.
My name is Jacob Littorin, your Personal Estate Agent in Islington. My mission is to get you the best deal and smoothest process when selling your property, in what might be the biggest transaction of your life. 💜
Please subscribe to not miss coming Islington property updates. Follow me and my content-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.
