House Prices Report for Wanstead and Hampstead - January 2024

According to Halifax, "Average house prices are rose by 1.1% in December 2023, the third monthly risein a row. Property prices grew 1.7% overall in 2023."

Introduction:

I'm excited to share with you about how a property buyer like you used the House Prices Report for Wanstead and Hampstead. Sarah, now homeowner, was looking for a property in the Wanstead, London and was curious about the local property market. They found the report to be incredibly helpful in understanding the market trends and reaching best price to offer.

NOTE: It's important to note that these figures are based on the 3-month moving averages

Average House Prices in Wanstead & Hampstead

The property market in Wanstead and Hampstead is quite dynamic, with prices fluctuating frequently. In August 2023, the average sold prices in Wanstead were £837,064, while in Hampstead, they were £1,600,694. However, by October 2023, the average sold prices in Wanstead had dropped by 30% to £585,800, while in Hampstead, the prices had decreased by 5% to £1,513,800.

It's important to note that the average sold prices in Wanstead and Hampstead vary depending on the type of property. For instance, in Wanstead, the average sold price for a detached house was £2,369,662 in August 2023, while the average sold price for a flat was £405,219. Similarly, in Hampstead, the average sold price for a terraced house was £3,545,929 in August 2023, while the average sold price for a flat was £1,103,086.

But what do these numbers mean for you? Well, let me tell you a story about a happy buyer. Sarah, a young professional, was looking for a new home in Wanstead. She had her heart set on a semi-detached house, but the prices were too high for her budget. However, when she saw the drop in prices in October 2023, she decided to take another look. She found a beautiful semi-detached house that was perfect for her, and the price had dropped from £1,345,163 to £1,265,000. She was thrilled with her purchase and couldn't be happier with her new home.

The Average House Prices in Wanstead & Hampstead

Median Property Selling Prices in Wanstead & Hampstead

Let's talk about the property market in Wanstead and Hampstead. The median property selling prices in Wanstead were £585,800 between August 2023 and October 2023.

However, the prices for different types of properties varied. For instance, the median selling price for a detached house in Wanstead was £2,369,662 in August 2023, while the median selling price for a flat was £395,000.

Similarly, in Hampstead, the median selling price for a terraced house was £2,530,000 in August 2023, while the median selling price for a flat was £1,010,000.

Number of Properties Sold in Wanstead & Hampstead

Number of Properties Sold in Wanstead and Hampstead. The number of properties sold in Wanstead in October 2023 was 10, which is a significant drop from the 25 properties sold in August 2023 . Similarly, in Hampstead, the number of properties sold in October 2023 was 5, which is a considerable decrease from the 16 properties sold in August 2023.

But what do these numbers mean for you? Well, let me tell you a story about a happy property investor. Emma, a young professional, was looking to invest in a property in London. She recently purchased a 1-bed flat in the Hampstead area.

They were able to sell the property in just 90 days for a gross profit of £100,000. The investor was thrilled with the quick turnaround and the profit they made. It's always great to hear about happy investors!

If you're looking to invest in a property in Wanstead or Hampstead, keep an eye on the market trends and be patient. You never know when the perfect investment will become available at the right price. And when it does, you'll be glad you waited. 

Average Time on Market by Type in Wanstead & Hampstead(days)

So let's dive into the data you provided. The average time on market by type in Wanstead has changed from October 2023 to January 2024. Detached homes took 266 days to sell in January 2024, which is 97% more than the 135 days it took in October 2023. Semi-detached homes took 136 days to sell in January 2024, which is 40% more than the 97 days it took in October 2023. Terraced homes took 116 days to sell in January 2024, which is 46% less than the 214 days it took in October 2023. Flats took 131 days to sell in January 2024, which is 8% less than the 142 days it took in October 2023.

Overall, the average time on market for all types of homes in Wanstead was 136 days in January 2024, which is 4% less than the 142 days it took in October 2023.

Now let's take a look at the data for Hampstead. Detached homes took 270 days to sell in January 2024, which is 32% more than the 205 days it took in October 2023. Semi-detached homes took 266 days to sell in January 2024, which is 20% more than the 222 days it took in October 2023. Terraced homes took 234 days to sell in January 2024, which is 18% more than the 198 days it took in October 2023. Flats took 264 days to sell in January 2024, which is 12% more than the 235 days it took in October 2023.

And, the average time on market for all types of homes in Hampstead was 262 days in January 2024, which is 16% more than the 226 days it took in October 2023.

Speaking of happy property investors, let me tell you about a recent success. A property investor in the London recently purchased a 2-bed home in the Wanstead area. They were able to sell the property in just 90 days for a net profit of £43,500. The investor was thrilled with the quick turnaround and the profit they made. It's always great to hear about happy investors!.

Number of Properties Found Advertised for Sale in Wanstead & Hampstead(days)

In Wanstead, the number of properties advertised for sale has decreased from 187 in October 2023 to 138 in January 2024, which is a 26% decrease. The number of detached homes advertised for sale has decreased from 25 in October 2023 to 7 in January 2024, which is a 72% decrease.

The number of semi-detached homes advertised for sale has decreased from 55 in October 2023 to 40 in January 2024, which is a 27% decrease. The number of terraced homes advertised for sale has decreased from 28 in October 2023 to 21 in January 2024, which is a 25% decrease.

The number of flats advertised for sale has decreased from 70 in October 2023 to 56 in January 2024, which is a 20% decrease.

Meanwhile, in Hampstead, the number of properties advertised for sale has decreased from 785 in October 2023 to 665 in January 2024, which is a 15% decrease. The number of detached homes advertised for sale has decreased from 59 in October 2023 to 46 in January 2024, which is a 22% decrease.

The number of semi-detached homes advertised for sale has decreased from 38 in October 2023 to 34 in January 2024, which is a 11% decrease. The number of terraced homes advertised for sale has decreased from 38 in October 2023 to 29 in January 2024, which is a 24% decrease.

The number of flats advertised for sale has decreased from 618 in October 2023 to 521 in January 2024, which is a 16% decrease.

This 9-bed detached home, which is coming on the market for the first time since 1931, you have an opportunity to acquire this discreet family estate that comprises a pair of semi-detached Grade II Listed Georgian houses, once combined to form an exceptional grand period house. The asking price for the home is £18M.

Frognal, Hampstead Village, 9 bed, 6 bath detached home, listed for £18,000,000

The asking price for the home is £18M. Please respond with Frognal, Hampstead Village to learn more about the property.

Can you imagine living here?

Camden Road, Wanstead E11, 3-bed, 2 bath terraced home, listed for £635,000

This 3-bed home is currently on the market for £635,000 and this property is one of the cheapest terraced homes you will find in Wanstead with the average prices for terraced property currently at £820,000. The home is also located within 300 metres of Wanstead station and the high street is also that close to the property. So, this will make a dream family home and equally remarkable rental property.

I will be happy to help you secure this property at a generous price. Get in touch now

Whenever You Are Ready - Here’s What You Can Do:

1. Investor Fact Find form - To help us understand your property investment preferences, please complete Investor Fact Find Form here

2. Sell your home in London - If you are going to sell your house in the next 6 to 9 months, please register your info here

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