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HomeBusinessProperty Market Comparison: Stanmore vs. Harrow Weald

Property Market Comparison: Stanmore vs. Harrow Weald

The property market in London has always been influenced by various factors such as economic conditions, global events, and local trends. Over the past year, property prices have shown noticeable differences between areas in the borough like Stanmore and Harrow Weald.

According to Zoopla, in Stanmore, the average sold price for a property is £639,211. This part of the borough is known for its upscale homes. Detached houses here average £1,085,991, semi-detached houses are around £643,708, terraced houses average £595,417, and flats are priced at £416,478.

Stanmore is popular for its green spaces, such as Stanmore Common, excellent schools, and good transport links to central London, making it a desirable place to live.

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The high prices for detached and semi-detached houses show that there is a strong demand for larger, family-friendly homes.

Harrow Weald, on the other hand, has an average property price of £496,959. This area is more affordable and offers a range of options.

Detached houses average £808,636, semi-detached houses are about £522,244, terraced houses come in at £480,964, and flats are priced at £277,867.

Harrow Weald’s lower prices make it slightly more attractive to first-time buyers and investors. The area offers more affordability while still providing good access to amenities and transport, plus it’s closer to the town centre and Harrow and Wealdstone station.

Several factors have influenced the current property market. The COVID-19 pandemic in 2020 caused an initial slowdown, but then led to increased demand for more spacious homes as people shifted to remote working.

More recently, the cost of living crisis, with rising inflation and interest rates, has put pressure on household budgets. This economic strain may slow the market as buyers become more cautious. Currently as of June 2024, the market is relatively static, indicating that both buyers and sellers are holding back due to economic uncertainty.

Both Stanmore and Harrow Weald offer different advantages. What do you think? If you were buying your first home, and wanting to stay in the borough, which area would suit you better? Let us know in the comments on our socials.

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