Barnet house prices saw a small increase in July, but don’t break out the bubbly just yet! The average house price in Barnet crept up by a tiny 0.1% last month, according to the latest Land Registry figures. That means the average home will now set you back £592,597.

While this might seem like a positive sign for sellers, the bigger picture is a bit more complicated.

Here’s the deal:

• London’s Losing Steam: Across the capital, prices actually dipped by 0.3% in July.
• UK Still Going Strong: Meanwhile, the UK as a whole saw a much healthier rise of 0.6%.
• Barnet’s Yearly Scorecard: Looking back over the past year, Barnet prices have inched up by just 0.8% – that’s an increase of £4,800. That puts Barnet in 18th place out of London’s 33 boroughs.

First-Time Buyers Feeling the Pinch

If you’re dreaming of getting on the property ladder in Barnet, get ready to dig deep. The average first-time buyer shelled out £485,300 in July – £6,000 more than a year ago.

Property Type Price Rundown

• Flats Flying High: Flats in Barnet were the star performers in July, with prices up 0.3% to an average of £425,333.
• Detached Homes Dwindling: Fancy a detached house? Be prepared to pay a hefty £1,424,336 on average – but prices have actually dropped by 1.8% over the past year.
• Semis Holding Steady: Semi-detached homes saw a small dip in July but are still up 0.2% over the year, costing an average of £835,231.
• Terraced Homes Ticking Up: Terraced houses in Barnet are now priced at an average of £629,955, showing a 0.1% monthly increase and a healthy 1.4% annual rise.

Barnet vs the Rest

How does Barnet stack up against other areas?

• Pricey Compared to the UK: Barnet’s average house price is a hefty 13.8% higher than the UK average of £290,000.
• Mid-Range in London: In the London market, Barnet sits around the middle, with the average price in the capital at £521,000.
• Kensington and Chelsea Still King: For those with seriously deep pockets, Kensington and Chelsea remains London’s most expensive borough, with an eye-watering average property price of £1.2 million.

Barnet at a Glance

	Barnet	London	UK
Average House Price (July)	£592,597	£520,747	£289,723
Annual Change (to July)	+0.8%	-0.4%	+2.2%