(Recently Listed – Sandbrook Road, London N16 – Guide Price £1,350,000)
Realistic and Competitive Pricing is Key to Selling in Stoke Newington
By Julian Reid – Owner Julian Reid Estate Agents
While July and August traditionally represent quieter months for property transactions, as many families typically prioritise holidays over house hunting, Stoke Newington’s property market is notably bucking this usual seasonal trend. According to the latest data from Rightmove’s House Price Index, sales agreed in Stoke Newington and the surrounding areas are up 5% compared to the same period last year, and the number of potential buyers contacting estate agents in Stoke Newington has risen by 6% year-on-year.
The Importance of Realistic Pricing
Central to this surge in local market activity is the approach sellers have taken towards realistic and competitive pricing. Rightmove data indicates that new seller asking prices are only 0.1% higher than this time last year, reflecting sellers’ keen awareness of the competitive landscape. At the same time, improved buyer affordability, driven by lower mortgage rates and wage growth outpacing inflation, is making purchasing a home increasingly achievable.
Asking Prices and Market Insights
It is important to note that Rightmove’s primary data source is asking prices, as actual sales data is delayed. The Land Registry provides actual sold property prices, but their data lags by approximately three months, making asking prices the most immediate gauge of current market conditions for estate agents and buyers alike.
The most recent report from Rightmove highlights a 1.2% drop in average asking prices for newly listed properties, corresponding to the highest inventory level in a decade. This elevated level of available homes is prompting Stoke Newington sellers to set more competitive asking prices from the outset, recognising the necessity of appealing swiftly to prospective buyers.
Competitive Pricing as a Sales Driver
Much media coverage tends to sensationalise fluctuations in asking prices. However, the core insight from the latest Rightmove Index underscores a fundamental principle: realistic and competitively priced homes sell. The Stoke Newington market is clearly demonstrating improved buyer activity and stronger affordability when sellers accurately price their homes.
Colleen Babcock, a property expert from Rightmove, observed, “We’re witnessing an intriguing relationship between property pricing and market activity levels. The consistent volume of agreed property sales confirms that serious, motivated buyers are active in the market and ready to proceed for appropriately priced properties. Correct pricing remains essential for successful sales.”
Improving Mortgage Affordability
Rightmove’s monthly mortgage tracker indicates the current average two-year fixed mortgage rate is at 4.53%, compared with 5.34% at this point last year. This improvement represents a monthly saving of nearly £150 on a typical new mortgage, significantly enhancing affordability for Stoke Newington buyers.
Market forecasts currently suggest there could be two additional Bank Rate cuts by year-end, further enhancing affordability and supporting increased market activity.
Adjusted Market Forecast
Midway through the year, Rightmove has revised its original 2025 price growth forecast from +4% down to +2%. This adjustment is largely attributed to the intense competition among sellers, which continues to restrain price growth. However, Rightmove still expects approximately 1.15 million property transactions this year.
For homeowners in Stoke Newington contemplating selling this summer, recognising the importance of pricing strategies is crucial. Realistic, competitive pricing can significantly improve your chances of attracting serious buyers and securing a successful sale.
A Selection of Recently Listed Homes from Julian Reid
Here are just a few of our most recently listed properties for sale from our Stoke Newington office –
Flat For Sale in London N16 – Guide Price £700,000
Flat For Sale in Finsbury Park – Guide Price £740,000
House Now Sold STC in Stoke Newington – Offers Over £1,395,000
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.
See our ‘Recently Sold Properties’.
Considering a Summer Move?
Please feel free to call me at our Stoke Newington Office if you are considering selling your home in the N16 or surrounding areas of North London, 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.
Good luck with your house hunting.
Julian Reid
See what our customers say – Customer reviews