Camden’s Koolest spot sees property values defy wider market conditions
Research by London property developers, Misuma, the guys behind the current house competition, WinMyDreamHome.com, has found that it isn’t just the social scene in Kentish Town that is proving a draw for London home buyers, with house prices in the area defying the Brexit blues to see positive movement already in 2019.
So far this year, property values in Kentish Town have already climbed to 1.71% higher than the levels reached in 2018. A modest increase but impressive considering that across London as a whole, prices have plunged -2.38% during the same time period.
In fact, just six London boroughs have seen an increase in the average house price for 2019 when compared to last year, with just one of these boroughs, Hackney (+1.8%), outperforming the property market in Kentish Town.
Coined the ‘cool part of Camden’, Kentish Town is a melting pot of independent shops restaurants and bars with the area home to its own brewery, 790 acres of woodland, a lido and a vibrant social scene driven by food, music and shopping.
No surprise then, that it has become popular amongst the capital’s young professionals as well as a whole host of high-profile celebrities. With a population of 31,000, those residing in the area are predominantly at the higher end of the career ladder commuting less than five miles to work, with nearly half of all residents holding a degree.
However, social rent accounts for 43% of the borough’s tenants, 5% higher than the London average, with Kentish Town refusing to shake its roots as one of London’s most inclusive neighbourhoods despite its consistently increasing popularity.
The downside?
A property in Kentish Town doesn’t come cheap and with an average house price of £865,354, just the boroughs of Kensington and Chelsea and Westminster are home to a higher price tag.
Director of Misuma and WinMyDreamHome.com, Marc Gershon, commented:
“Kentish Town has been one of London’s notoriously cool spots long before the likes of Shoreditch started to steal the limelight and while this is certainly reflected within the average house price, the area has maintained all the traits that built such appeal and refused to transform into another gentrified London tinsel town.
This sort of stamina resonates with people and attracts buyers that are more concerned about the neighbourhood they live rather than the money they can make back on their bricks and mortar investment. As a result of this consistent demand, the property market in Kentish Town has remained impervious to the impact of wider market uncertainty and while property values in much of inner London are tumbling, Kentish Town is travelling in the opposite direction.
This is one of the driving factors behind our choice to launch WinMyDreamHome with a property in Kentish Town, as we believe the appeal of the area will drive people to enter above and beyond the chance to win a multi-million-pound house for just a tenner.”
About WinMyDreamHome.com
The beautifully renovated Victorian home in Bartholomew Road, Kentish Town, NW5 is valued at £2.1m and with tickets costing just £10, the lucky winner can rent it, live in it, or sell it if they should choose to do so. With amazing schools, parks, a thriving high street, and great transport connections into the city, it’s an amazing place to live.
The house is set over 4 floors with the master bedroom occupying the whole top floor, with a walk-in wardrobe and huge luxury marble bathroom just beyond. It truly is a peaceful retreat for the grown-ups.
The first floor has 3 large double bedrooms with 2 separate bathrooms.
The ground floor has two through reception rooms, capable of being separated and access to the highest of the outdoor spaces.
Lastly, the lower floor has been completely opened up to create a magnificent kitchen dining room, with all the highest spec appliances and even a separate utility room to boot. Further access to the two lower terraces is also on this level.
All legal fees and stamp duty costs will also be included within the prize, even the additional 3% for buy-to-let and second home stamp duty if the winner happens to already own a home.
Want more info? Head to: https://www.winmydreamhome.com/index.aspx#faq
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Location / Area
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Outcode area
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Kentish Town
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NW5
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Population (est)
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30,948
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Political control
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Labour
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Social grade: AB
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35%
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Social grade: C1
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34%
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Social grade: C2
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10%
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Social grade: DE
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21%
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Crime Rate
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126
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Social rent
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43%
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Deprivation level
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11%
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Health level
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81%
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People with a degree
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49%
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Average commute
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4.5 miles
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Vehicles per household
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0.5
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Ave Rent (per month)
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£2,011
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Ave Yield
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3.2%
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Source: PropertyData
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Location
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Average House Price 2018
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Average House Price 2019 to date
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Change (2018-2019)
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Hackney
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£545,039
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£555,001
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1.83%
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City of London
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£784,487
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£794,128
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1.23%
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Newham
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£358,941
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£363,154
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1.17%
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Barking and Dagenham
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£295,284
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£297,757
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0.84%
|
|
Richmond upon Thames
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£652,416
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£653,749
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0.20%
|
|
Hounslow
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£396,742
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£397,469
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0.18%
|
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Camden
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£841,349
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£839,708
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-0.20%
|
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Ealing
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£480,179
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£477,135
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-0.63%
|
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Enfield
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£396,568
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£394,010
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-0.65%
|
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Merton
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£511,917
|
£508,291
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-0.71%
|
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Hillingdon
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£410,078
|
£405,449
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-1.13%
|
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Sutton
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£379,352
|
£374,596
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-1.25%
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Greenwich
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£388,304
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£382,732
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-1.44%
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Bexley
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£342,649
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£337,637
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-1.46%
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Lewisham
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£411,805
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£404,693
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-1.73%
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Croydon
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£370,159
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£363,550
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-1.79%
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Haringey
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£551,419
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£541,445
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-1.81%
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Waltham Forest
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£440,559
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£431,807
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-1.99%
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Bromley
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£443,525
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£434,630
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-2.01%
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Havering
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£370,091
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£361,952
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-2.20%
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Lambeth
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£511,635
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£499,003
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-2.47%
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Redbridge
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£422,593
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£410,375
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-2.89%
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Hammersmith and Fulham
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£725,697
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£703,785
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-3.02%
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Southwark
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£504,488
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£488,704
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-3.13%
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Islington
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£649,241
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£628,584
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-3.18%
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Brent
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£492,529
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£475,695
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-3.42%
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Wandsworth
|
£596,632
|
£575,829
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-3.49%
|
|
Tower Hamlets
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£446,096
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£430,160
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-3.57%
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Barnet
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£533,121
|
£513,736
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-3.64%
|
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Harrow
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£466,016
|
£448,775
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-3.70%
|
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Kingston upon Thames
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£497,066
|
£477,318
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-3.97%
|
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Westminster
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£1,019,279
|
£946,089
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-7.18%
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Kensington and Chelsea
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£1,363,223
|
£1,264,788
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-7.22%
|
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Kentish Town – NW5
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£850,843
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£865,354
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1.71%
|
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LONDON
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£477,890
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£466,520
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-2.38%
|
|
House price data sourced from Home.co.uk and Gov.uk
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