Neasden Property Market Value

Situated in the north-west London borough of Brent, between Kingsbury, Dollis Hill, and Willesden, Neasden is a quiet hamlet, characterised by its suburban charm and fabulous commuter links. 

Located beside the river that gives the area its name, Neasden encompasses the North Circular Road within its parameters, making it an ideal location for professionals who prefer to be outside of the hustle and bustle of the centre.

Neasden’s origins are humble. Its name means ‘nose hill’ and refers to its siting on a small promontory at the top of the Dollis Hill Ridge. It remained rural long after most of London had been urbanised, only being enlarged by the arrival of a railway engineering works in the 1880s and the construction of the North Circular Road in 1923. 

Over the ensuing decade, the area became home to a host of private housing estates. These swallowed up most of the remaining farmland and turned it into the suburban hub we see today – one with excellent transport links to the city centre and affordable housing prices that make it a very attractive option for those in search of easy access to London.

Average prices in Neasden 

Property price tags in Neasden have averaged a competitive figure of just £427,673 over the last 12 months. Currently at £475,276, they remain 27% lower than the city-wide average of £654,688. This makes Neasden a more economical area to live in than either neighbouring Willesden or Kingsbury, at £651,597 and £514,232 respectively. 

Thanks to a higher proportion of smaller properties in general, the median house price in the Borough of Brent as a whole is £521,607, significantly cheaper than the majority of the city. 

Average Prices by property type

Flats: £302,463
Terraced: £546,006
Semi-detached: £591,848 
Detached: £316,345 

According to current Zoopla estimates, over the 12-month period up to February 2017, property prices in London rose by £14,674, a 2.3% increase. In Neasden itself, they grew more conservatively, by 0.3% (an increase of £1,345). 

Average rental prices in Neasden 

When assessing the property market in Neasden, we must also take into account rental costs, which average around £1,597 per calendar month. The lowest rents start at around £795 for an entry-level one-bedroom house, rising to around £3,077 for a five-bedroom property.

Property available to let in the area consists of approximately: 

One bedroom properties averaging around £1,158: 33% 
Two bedroom properties averaging around £1,610: 39%
Three bedroom properties averaging around £2,123: 18%
Four bedroom properties averaging around £2,800: 8%
Five bedroom properties averaging around £3,077: 3% 

This means that rental prices are significantly lower than in London as a whole, where the average per calendar month is £2,661. Thus, renting in Neasden is around 40% cheaper. 

For those looking for an economical locale to buy or rent in, these prices make Neasden an ideal area to consider. Close enough for commuting into central London, its station handily connects to the Jubilee line, ensuring that travellers can be at Waterloo in just 22 minutes or London Bridge in 25 minutes.

If you’re looking for a property to either rent or buy in the area, simply use our property search to see what’s available.

References: 

http://www.zoopla.co.uk/market/neasden/?q=Neasden%2C%20London 

http://www.commutefrom.com/?from=Neasden&tocode=ANY&time=ANY&querytype=search