The latest figures show that the average price for a Terraced property in Brent has now reached £637,342 as of Jul 2024. This value is based upon the average value of completed property transactions in the month of July.
Average prices for a Terraced property have increased substantially over the longer term in Brent. Back in January 1995, prices for this type of property averaged £80,786 based on sales at the time. Fast forward to January 2024, and averages reached £650,942 - representing a growth of 706% over 29 years.
This substantial triple-digit percentage rise in Terraced property values far outpaced broader inflation over the same period. Rising household incomes, strong local economy, high demand and constrained supply all likely contributed to the steep price inflation seen for Terraced homes in Brent over the past 3 decades.
Our data is sourced directly from HM Land Registry and their UK House Price Index report. This dataset is updated several times a year and we always attempt to have the most up to data information available.
Terraced prices in Brent over the last 12 months
Date
Price
Aug 2023
£702,883
Sep 2023
£703,148
Oct 2023
£713,564
Nov 2023
£663,223
Dec 2023
£648,400
Jan 2024
£650,942
Feb 2024
£658,788
Mar 2024
£646,175
Apr 2024
£630,799
May 2024
£624,498
Jun 2024
£662,601
Jul 2024
£637,342
Recent trends for prices in Brent
The latest figures from July 2024 indicate the property market in Brent continues to show falling price trends. Compared to June, 2024, average prices decreased by -3.6% to £513,133. On an annual basis, average property prices have decreased -0.1% since 12 months ago.
In terms of sales activity, there were 64 residential property transactions completed in Brent during July, 2024. Of these purchases, 40 were financed with a mortgage while 7 were all-cash sales. For cash buyers, average prices have changed by -3.3% since June, 2024, coming in at around £514,355. For properties purchased with a mortgage, the average price changed by -3.7% since June, 2024, to £512,376.
Compared to the overall picture in its national parent England, the average property price in Brent are higher than the current national average of £305,879. While Brent saw a change of -3.6% over the last month, England as a whole recorded a percentage change of 0.2% in average property values. And on an annual basis, prices across England have grown by 1.6%, more than the -0.1% yearly change seen in Brent.
Interested in purchasing a property in Brent? Use our Monthly Mortgage Cost Calculator to see how much a property may cost you per month. This tool is for illustrative purposes only and does not constitute financial advice.
Average price in Brent by housing type
Prices last recorded in July, 2024
average
£513,133
detached
£1,140,653
flat
£404,438
semi-detached
£754,755
terraced
£637,342
Prices by housing type in Brent
Recent data shows that price growth has varied across different property types in Brent over the last year. For terraced houses, property prices changed by -3.8% between July 2024 and June 2024 to reach £637,342, and changed by -0.6% over the last 12 months. The annual change was greater than the 1.8% change seen for terraced homes in England overall.
Meanwhile, semi-detached properties saw a fall in average prices locally, taking them to £754,755 in June 2024. This represents a -3.9% change from the same month last year.This is underperforming the 2.2% annual change in semi-detached values across the country.
Detached homes in Brent lost -3.9% month-over-month to reach an average of £1,140,653. Annually, detached property values have changed by -2.9%. This is weaker price growth compared to England's 1.6% change for detached houses over the year.
For apartments and flats, average prices decreased by -3.4% between July and June 2024, hitting £404,438. Over the last 12 months, apartment values have changed by 0.9%, surpassing England's flat and apartment growth rate of 0.4%.
Overall, flat properties have seen the strongest price momentum locally over the past year, with a change of 0.9%, while detached properties lagged, with a change of -2.9%.
Recent purchases in Brent
According to data from HM Land Registry, there were 64 completed property purchases in the area of Brent in July 2024. Of these sales, 7 were recorded as cash purchases whilst 40 were purchased using a mortgage. Compared to this time 12 months ago, the percentage of properties purchased using a mortgage has changed by -0.5% and the percentage of properties purchased with cash has changed by 1.1%.
The number of cash and mortgage purchases may not match the recorded number due to exclusions listed on the gov.uk website
Looking for a specific property type?
Use one of the following links to find more specific information about the type of property you're looking for in brent.
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