A seemingly average five bed end-of terrace home in north London has hit the market for a whopping seven figure sum.
The ‘modernist’ home in Highgate, located in the fashionable Camden borough, presents a modest appearance. It features a box-like shape with concrete slabs paving the exterior, small windows on the second floor, and a driveway accommodating just one car.
But it has been listed for an eye-watering £1,599,000 – nearly three times the price of the average London house.
The listing pictures show its two nicely kept downstairs reception rooms, a narrow fitted kitchen and five (admittedly cosy in size) bedrooms.
It is also equipped with a double-height bathroom, floor-to-ceiling exterior doors to the garden and a secure heated garage.
Bruce Hall, an estate agent from Purplebricks, remarked: ‘The property boasts significant openness, with a light-filled, double-height dining area that seamlessly transitions into a spacious main reception room. This opens out to a Japanese-style rear garden, fostering a genuine indoor-outdoor connection.’
And for buyers who want their home to have some history, it was designed by 1960s modernist architects Andrews, Emerson, Sherlock and Keable.
But for one bathroom and a rather weedy paved garden – described as ‘Japanese-inspired’ – its price might seem outlandish.
This five bed end-of-terrace home in north London has gone on the market for a cool £1.6 million
The property listing boasts a ‘Japanese-inspired garden’ (pictured)
Some might consider its upstairs rooms snug in size, accompanied with arguably narrow windows
The fitted kitchen is contemporary – but not exceedingly generous in size given the hefty price tag
While the typical house price in London sits at £561,587, with the national UK average being £270,000, this five-bedroom Highgate home is listed at £1,599,000. This figure is quite high, especially for the average Londoner, whose income is around £47,455.
Despite the property’s description highlighting its prime location and design by ‘renowned 1960s architects,’ the hefty price has left many potential buyers hesitant.
One young couple who have just bought a property on the other side of the road said: ‘That does seem an outrageous price for the property.
‘The whole of North London seems outrageously expensive at the moment.
One local commented, ‘We were fortunate to purchase here. We loved walking in Highgate and it’s ideal, especially with our dog. Plus, it’s a safe part of London.’
‘But especially for young people these prices are unattainable.’
This 1960s home is conveniently located within walking distance from the tube and near Hampstead Heath, London’s iconic park area, famed for its charming ‘village feel.’
Properties in the borough of Camden have gained in value the past year, around 6 per cent – worth roughly £50,000.
Its interiors have been well designed, with wooden flooring and floor-to-ceiling rear doors
The ground floor has two reception rooms, which the listing says makes the property ideal for entertaining guests or extended family
The carpeted master bedroom has enough room for a double bed, fitted wardrobe and storage space
Meanwhile properties across the capital as a whole increased by just 0.7% over the past year.
Hall added: ‘Properties such as these are rare finds.
‘There is so much openness within it, from its light-filled, double-height dining area, flowing into its large main reception room, opening out again onto its Japanese-inspired rear garden, creating a real indoor-outdoor connection.
‘Location is key with this property. Situated in the heart of Highgate, with a short walk from Hampstead Heath, one of London’s largest and most famous parks, the house is surrounded by quiet leafy streets, which help to create an appealing village-like feel to the area.’
Residents who live in the houses along the terrace from the £1.6 million property were less outraged by the asking price.
One homeowner said: ‘It’s bigger than the other terraced houses along the road so that seems about right.
‘I wouldn’t say that’s an outrageous price – Highgate is an expensive area. I’ve lived here for two and a half years.’
Another neighbour added: ‘You can’t just compare the average house price of the UK to one property – you have to look at that specific area too.
Its upstairs bathroom has all the essentials – but the occupants of the five bedrooms will all have to share
The Highgate property is a ‘modernist’ box-shape and is situated in the trendy borough of Camden
Property prices in the borough have increased over the past year compared to the rest of London
Estate agent Bruce Hall said the property has a ‘real indoor-outdoor connection’
The house was designed by 1960s modernist architects Andrews, Emerson, Sherlock and Keable
‘My wife and I did look at that property when we first came here and thought it wasn’t a bad price per square foot. It’s not that bad for Highgate to be honest.
‘I would pay that price. People in this area do come and tend to stay here for a long period too.’
One resident thought it depended on how much work they had done on the interior.
‘It depends on how much they’ve spent on their property,’ they said.
‘I’ve lived in this house for decades and I have no intention of selling, but I know Highgate is traditionally a more expensive area of north London.’
