Islington Property Market - September 2023
- Jacob Littorin
- Oct 6, 2023
- 3 min read
Updated: Jul 7, 2024
It's October! The fourth quarter of 2023 is here and what is happening in the property market in N1, N5, and N7? This is your Islington Property Market newsletter, and here are the statistics. Enjoy!
Jacob x.
September 2023 compared with September 2022
Islington's property market is down, but not significantly.
🟪 Available Properties: 1,223 - down 9.7% ⬇❌
The number of available properties for sale has decreased by approximately -9.7% compared to September 2022 when there were 1,353 properties on the market.
🟪 New Instructions: 265 - down 17.2% ⬇❌
The number of new property instructions has decreased by approximately -17.2% compared to September 2022 when there were 320 new instructions.
🟪 Sales Agreed: 146 - down 5.8% ⬇❌
The number of sales agreed has decreased by approximately -5.8% compared to September 2022 when there were 154 sales agreed.
🟪 Price Reductions: 159 - down 23.6% ⬇✅
The number of price reductions has decreased by approximately -23.6% compared to September 2022 when there were 203 price reductions.
🟪 Properties Listed for More Than 12 Weeks: 1,278 - down 10.8% ⬇✅
The number of properties listed for more than 12 weeks has decreased by approximately -10.8% compared to September 2022 when there were 1,471 properties in this category.
Average (Mean) Sold Prices September 2023 compared with 2022
1-Bed Apartment: £461,770 (48 sold) ⬇❌ (2022: £487,138 - 39 sold)
2-Bed Apartment: £715,375 (50 sold) ⬇❌ (2022: £827,606 - 66 sold)
2-Bed House: £1,587,500 (2 sold) ⬆✅ (2022: £1,116,666 - 3 sold)
3-Bed Apartment: £1,035,294 (17 sold) ⬇❌ (2022: £1,375,833 - 18 sold)
3-Bed House: £1,278,125 (8 sold) ⬇❌ (2022: £1,448,611 - 18 sold)
4-Bed Apartment: £1,589,999 (15 sold) ⬆✅ (2022: £535,000 - 1 sold)
4-Bed House: £1,784,615 (13 sold) ⬇❌ (2022: £2,133,333 - 9 sold)
5-Bed Apartment: £999,950 (1 sold) ⬇❌ (2022: £2,304,990 - 5 sold)
5-Bed House: £1,450,000 (2 sold) ⬇❌ (2022: £1,638,333 - 6 sold)
There were 40 properties that had a sale agreed this September at £1,000,000 or above. The most expensive property was a 7-bedroom house on Highbury Place sold for £8,000,000.
The average time on the market in and around Islington is currently 243 days (approximately 35 weeks). The average daily views per property is 59.
September 2023 compared with August 2023
🟪 Available Properties: Down 2.8% ⬇❌
From 1,257 (August) to 1,223 (September), there has been a slight decrease in available properties, indicating a stabilization in the market.
🟪 New Instructions: Up 10.0% ⬆✅
From 239 (August) to 265 (September), there was a 10% increase in new instructions, suggesting a rise in the number of properties entering the market.
🟪 Sales Agreed: Down 5.2% ⬇❌
From 155 (August) to 146 (September), there is a 5.2% decrease in sales agreed, reflecting a slight dip in property transactions.
🟪 Price Reductions: Up 9.7% ⬆❌
From 145 (August) to 159 (September), there is a 9.7% increase in price reductions, possibly indicating a market response to ensure competitiveness.
🟪 Listed for More than 12 Weeks: Up 2.2% ⬆❌
From 1,247 (August) to 1,278 (September), there is a 2.2% increase in properties listed for more than 12 weeks, suggesting a slightly longer time on the market for some properties.
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. 💜
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*Source: Rightmove. Data showing resale & new build detached houses, semi-detached houses, terraced houses, unspecified houses, flats/apartments, bungalows, and land.
