Market Update – July 2023

24th July 2023

Raydean Road, New Barnet – Guide Price £675,000 – Now Under Offer

Michael HollowayBy Michael Holloway – Hunters Estate Agents, Barnet

What is really happening to the property market in Barnet?

Historically the property market has always had its ups, followed closely by a period of uncertainty. Those of us with a long enough memory will remember, or perhaps even have experienced, the same in the late 1980s and the 1970s before that.

History does have a habit of repeating itself though, and in time we will all likely look back and wonder what all the fuss was about, as property remains the best long-term investment many of us will ever make, and more importantly have a place to call home.

It was unrealistic to expect the increasing property values of the 2022 market to continue, as sooner or later the bubble had to burst. This leaves first-time buyers, who are the foundation of the market, priced out, as their incomes simply cannot stretch to meet mortgage requirements.

Selling your home in Barnet in the current market

For the practical seller, the sale of their home can work out better for them. Whilst the price they get for their property might be less than they would have expected, this should be reflected in their onward property purchase. With a reduced purchase price, they may borrow less, pay less stamp duty, and lower legal and estate agency fees.

It’s easy to get caught up in the media coverage of the current property market, but there are plenty of shrewd buyers out there still keen to buy. As long as sellers are sensible about price, these motivated buyers are still willing to proceed. In turn, when sellers become buyers, they too can benefit from similar opportunities.

Recently sold by Hunters

We at Hunters continue to strive to make sales and get our client vendors successfully moved. I am pleased to report our consistent successes with both off market sales as well as fully listed properties. It is obvious to us that this requires an increased volume of appointments by astute buyers. In short, the conversion rate of appointments made to agreed sales is lower.

Off-market sales

Now that properties are no longer being sold within the first weekend, with some exceptions, this gives an opportunity for good quality agents to spend a little more time with prospective buyers, enabling them to understand their needs and requirements and allowing them to make recommendations of properties that may not be on the market.

See our ‘Recently Sold Properties’.

Meadway, Barnet – £735,000 – Under Offer


Raydean Road, New Barnet – £675,000 – Under Offer


Potters Road, Barnet – £525,000 – Under Offer


Sebright Road, Barnet – Offers Over £500,000 – Under Offer  OFF-MARKET SALE


Jarvis Close, Barnet – £475,000 – Under Offer


To see the very latest homes coming to the market, click ‘New to market homes’, this lists all of the very latest homes as they come to the market with us at Hunters.

Ready to move?

If I have already provided a market appraisal and you are ready to come to the market ensure your property is marketed to its full potential and arrange an appointment with one of our professional photographers. I would be pleased to arrange this and discuss the next steps with you.

Feel free to call me if you are considering selling your home in the Barnet area, either for an informal chat about the market and how we might help you with this or to book a market appraisal.

You can also use our Instant Online Valuation tool.

Need a mortgage? Contact mortgage advisors Simpson Bowers, a firm of local independent financial advisors on 0208 275 8555. I can highly recommend them as they have helped many of our clients, including myself.

Good luck with your house hunting.

Michael Holloway – Hunters of Barnet

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