New Build Investor Guide – Barnet
May 2021
Buying a new build property off plan? Check out our Area Guide first
Are you considering purchasing a new build, off plan property in Barnet? Want to get the latest information on house prices, demographics and other useful information before you commit to a deal?
Our Area Guides give you the latest relevant information from local governments, the Census and the Office of National Statistics (ONS) data. They’re designed for offshore, new build property investors to help you understand an area in detail so you can make informed investment decisions.
Read on for investor details specifically about Barnet but if it’s more detail about the wider UK property market you need, you can download our latest report here. In our report we address two key questions:
1 Is investing in UK residential property still worth it?
2 If so, where are the best opportunities for property investors and why?
Barnet, London
Barnet is one of 20 outer London boroughs and is located in north London. Spanning nearly 33 square miles, it is the 4th largest borough by area. The borough is north of the river Thames and borders the county of Hertfordshire to the north and the London borough of Harrow, Brent, Camden, Haringey and Enfield. It includes the districts Barnet, Brent Cross, Colindale, Finchley, Edgware, Muswell Hill and many more.
Demographics
Barnet’s population is forecast to grow by nearly 16% by 2030
| Population (2018) | 379,049 |
| Forecast Population 2030 | 438,006 |
Source: data.london.gov.uk
Economically Active Population
A largely young, diverse, mobile population.
| Age Range | Percentage of population |
| 16 – 64 | 65% |
| Under 15 | 21% |
| Over 65 | 14% |
| Martial Status: | |
| Single | 37% |
Source: data.london.gov.uk
Average Life Expectancy
The average life expectancy for those born in Barnet between 2016 and 2018 are below. Life expectancy in the borough is the lowest of all London borough’s for both males and females .
| Males | 82 (UK average is 79). Males in Barnet have the 6th longest life expectancy of all London boroughs. |
| Females | 86 (UK average is 83). Females in Barnet have the 5th longest life expectancy of all London boroughs. |
Source: ons.gov.uk
Population Density (2011)
Barnet has 4,563 people per km2. Lower than the London average of 5,701 people per km2.
Source: ons.gov.uk
International Migration (2018-19)
7,269 new residents from overseas moved to Barnet in 2018 -2019.
Source: ons.gov.uk
Country of Birth
| Location of Birth | Proportion of Population |
| UK and Ireland | 63% |
| EU | 10% |
| Other countries | 27% |
Source: data.london.gov.uk
Crime & Safety
| Crime Numbers (April 2017 – March 2018) | 26,227 |
| Crime rate per 1,000 population (April 2017 -March 2018) | 68 |
| Barnet has the 7th lowest crime rate per 1,000 people of all London boroughs. |
Source: data.london.gov.uk
Education Schools
| Primary Schools | 126 (32 of which have an Ofsted rating of outstanding) |
| Secondary Schools | 53 (10 of which have an Ofsted rating of outstanding) |
| Schools and Colleges (16-18 years) | 46 (11 of which have an Ofsted rating of outstanding) |
Source: compare-school-performance.service.gov.uk
Universities
University of Middlesex London
Hospitals
BMI Hendon
Finchley Memorial Hospital
Chase Lodge Hospital
Hadley Wood Hospital
General Wellbeing
| Population considering themselves in very good health | 52% |
| Population considering themselves in very bad health | 1% |
Source: data.london.gov.uk
Employment & Economy
75% of working aged people employed (compared to 75% across England 74% across London).
Top 4 Sectors of Employment
| Finance, banking and insurance | 30% |
| Public administration, education and health | 28% |
| Distribution, hotels and restaurants | 15% |
| Construction | 9% |
Source: data.london.gov.uk
Major Employers
In 2020, there were 30 companies in the borough employing more than 250 people and 215 companies employing between 50 and 249 people. (source: nomisweb.co.uk)
Jobs and Job density
Aproximately 59,512 residents of Barnet also work in the borough. 47,272 people travel into the borough each day for work and 83,352 residents work outside the borough. The daytime population of the borough therefore decreases by 39,080 people each day. (source: data.london.gov.uk).
| Median Gross Annual Pay for full-time employee jobs (2017) | £31,365 |
| Number of jobs in the borough (2019) | 92,000 |
| Jobs per resident | 0.49 (London average 1.03 and UK average 0.87) |
Source: nomisweb.co.uk and data.london.gov.uk
Housing
| Number of residential properties in Barnet | 148,190 |
Source: data.london.gov.uk
Property Ownership (2018)
| own property outright (no mortgage) | 33% |
| own property with mortgage | 29% |
| rent from a Housing Authority or the Local Authority | 15% |
| rent from a private landlord (representing approximately 34,300 private rentals) | 24% |
Source: data.london.gov.uk
| Household with no car or van (2011) | 29% |
Source: nomisweb.co.uk
Household Composition
| One person households | 28% |
| One family households | 58% |
| Other (sharers / students etc) | 14% |
Source: nomisweb.co.uk
Average House Prices
House prices in Barnet are the 12th most expensive of all London boroughs and the third most expensive of the outer London boroughs.
| Average achieved price January 2020 | £521,666 |
| Average achieved price January 2021 | £544,918 |
| Increase/Decrease | +4.5% |
Source: www.gov.uk
Volume of Sales
During the COVID pandemic, the number of property transactions fell by 32%, the 5th largest fall of all London boroughs.
| Number of residential sales to year ending September 2019 | 3,768 |
| Number of residential sales to year ending September 2020 | 2,581 |
Source: ons.gov.uk
Achieved Rents (January to December 2020)
Mean monthly average rents in the borough:
| London Median Rents (per calendar month) |
Barnet (per calendar month) |
|
| Studio | £950 | £900 |
| 1 bedroom | £1,200 | £1,150 |
| 2 bedrooms | £1,450 | £1,400 |
| 3 bedrooms | £1,750 | £1,798 |
Source: london.gov.uk
New Build Developments in Barnet
There are nineteen new build large developments in Barnet are currently available for sale. Many of these have been sold in Asia and the Middle East to foreign property investors.
Beaufort Park (St George)
| Total Number of Apartments in the Fairbank, Foxcroft and Ferrington Buildings | 383 |
| These buildings first launched | September 2018 |
Average Prices – Beaufort Park
| Minimum | Average | Maximum | |
| Price | £399,950 | £569,209 | £894,950 |
| Price per ft² | £618 | £758 | £900 |
| Area (ft²) | 338 | 705 | 1,157 |
source: Molior
| Minimum | Average | Maximum | |
| 1 Bedroom | £399,950 | £419,593 | £494,950 |
| 2 Bedroom | £529,950 | £548,504 | £587,720 |
| 3 Bedroom | £819,950 | £856,200 | £894,950 |
source: Molior
Millbrook Park – Plaza Collection (Polly)
| Total Number of Apartments | 310 (262 private) |
| First Launched | August 2020 |
Average Prices – Millbrook Park – Plaza Collection
| Minimum | Average | Maximum | |
| Price | £399,000 | £566,557 | £753,690 |
| Price per ft² | £619 | £707 | £795 |
| Area (ft²) | 580 | 806 | 1,051 |
source: Molior
| Minimum | Average | Maximum | |
| 1 Bedroom | £399,000 | £425,713 | £447,170 |
| 2 Bedroom | £549,020 | £633,273 | £753,690 |
source: Molior
Ridgeway Views (Barratt London)
| Total Number of Apartments | 528 (320 private) |
| First Launched | September 2018 |
Average Prices – Ridgeway View
| Minimum | Average | Maximum | |
| Price | £535,000 | £816,829 | £2,100,000 |
| Price per ft² | £514 | £650 | £920 |
| Area (ft²) | 760 | 1,255 | 2,862 |
source: Molior
| Minimum | Average | Maximum | |
| 1 Bedroom | / | / | / |
| 2 Bedroom | £535,000 | £682,959 | £810,000 |
| 3 Bedroom | £599,000 | £748,665 | £1,090,000 |
source: Molior
Colindale – Blocks E, F and G (Redrow)
| Total Number of Apartments in Blocks E, F and G | 483 |
| First Launched | August 2020 |
Average Prices – Colindale – blocks E, F and G
| Minimum | Average | Maximum | |
| Price | £357,500 | £430,139 | £595,000 |
| Price per ft² | £592 | £679 | £728 |
| Area (ft²) | 505 | 640 | 1,005 |
source: Molior
| Minimum | Average | Maximum | |
| Studio | £360,000 | £363,125 | £367,500 |
| 1 Bedroom | £357,500 | £385,625 | £412,500 |
| 2 Bedroom | £460,000 | £522,000 | £555,000 |
| 3 Bedroom | £595,000 | £595,000 | £595,000 |
source: Molior
Millbrook Park – The Claves – Eco World
| Total Number of Apartments in Blocks E, F and G | 188 (159 Private) |
| First Launched | July 2017 |
Average Prices – Millbrook Park
| Minimum | Average | Maximum | |
| Price | £410,000 | £658,222 | £1,645,000 |
| Price per ft² | £607 | £717 | £826 |
| Area (ft²) | 536 | 939 | 2,406 |
source: Molior
| Minimum | Average | Maximum | |
| 1 Bedroom | £410,000 | £426,389 | £455,000 |
| 2 Bedroom | £600,000 | £748,261 | £950,000 |
| 3 Bedroom | £995,000 | £1,030,000 | £1,100,000 |
source: Molior
Environment & Leisure
Barnet is home to a large part of green belt land and:
159 parks and open spaces
10 locations with tennis courts
23 locations with football pitches
2 locations with rugby pitches
7 locations with basketball courts
2 golf courses
14 nature reserves
5 leisure centres (with 2 more under development)
16 libraries
Transport
Barnet’s overground and underground stations are in Zones 3, 4 and 5 .
Overground Stations
| Cricklewood | Hendon |
| Mill Hill Broadway | New Barnet |
| Oakleigh Park |
Underground Stations
| Brent Cross (Northern line) | Burnt Oak (Northern line) |
| Colindale (Northern line) | East Finchley (Northern line) |
| Edgware (Northern line) | Finchley Central (Northern line) |
| Golders Green (Northern line) | Hendon Central (Northern line) |
| High Barnet (Northern line) | Mill Hill East (Northern line) |
| Totteridge & Whetsone (Northern line) | West Finchley (Northern line) |
| Woodside Park (Northern line) |
Local Government
The Conservative Party
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