What’s happening in the UK housing market is quite complex at the moment. Many homeowners who are looking to move will be reading the headlines and wondering if now’s the right time, but looking at national averages can be dangerous when making decisions on your own home, as market conditions can vary widely by local area and property type.

The tripling of mortgage rates over the last 18 months and the rise in the cost-of-living are all adding to the squeeze on household budgets, leading to lower demand for homes nationally.

That means the huge growth in house prices we saw during the pandemic has now stalled and property prices are rising more slowly.

However, this is not what we are seeing or hearing locally. Hampstead and Highgate are affluent residential areas known for their beautiful architecture, green spaces, and proximity to Hampstead Heath. Both areas are amongst the most highly sought-after locations in London. This on its own ought to be enough, but it is the large number of excellent and hugely popular, local schools that continue to be a huge draw. As a consequence, the demand, particularly for family sized properties, often outstrips supply.

The housing stock consists of a mix of properties. Both areas have excellent transport links, including underground stations, bus routes, and proximity to major road networks. Hampstead Heath, one of London’s largest green spaces comprising almost 800 acres, is a major attraction for residents, offering vast expanses of open land and woodland.

Hampstead Village is known for its picturesque streets, upscale shops, and the famous Hampstead Theatre. The area has a village-like atmosphere and offers a range of high-end properties, many of which have stunning views of the city.

Highgate, on the other hand, is known for its leafy streets, historical landmarks, and its fine mix of properties from the late 17th Century to modern. It attracts buyers looking for a quieter, more secluded environment while still being within easy reach of the hustle and bustle of central London.

No area is immune from the economic challenges the country is facing however, Hampstead and Highgate have historically enjoyed a greater resilience being somewhat slower to react to any downturn and somewhat faster to recover.

If you are looking to sell your home and want to know how much it’s worth – click here.