Land Registry proves exactly what borough is worth

10:40am Wednesday 7th March 2001

You might think of the borough we all live in as priceless, but information solutions company Experian begs to differ it is worth precisely £26,487,807,593.

The company used information from the government's Land Registry to survey property prices across the country and came to the conclusion that, in terms of real estate, Barnet is worth more than cities like Leeds (£22bn); Cambridge (£20billion); Manchester (£18bn); Cardiff (£17bn), and Liverpool (£16billion).

They found that homes in Hendon cost an average of £229,571 and in Finchley £272,147.

Barnet is the ninth most expensive London borough to buy property with an average house price of £190,851 considerably more expensive than the neighbouring boroughs of Brent, Harrow, Enfield and Haringey.

Prices across London vary enormously, ranging from £491,354 (Kensington & Chelsea) to only £77,195 (Barking and Dagenham). The average price of a house in nearby Camden is £295,701.

Phillip Wise, a partner at Ashmore and Co estate agents in Finchley Lane, Hendon, said: "We don't get young couples coming to buy a house here anymore. The only first-time buyers we see are those who are wanting to buy a one-room flat. They go further out to Borehamwood, Barnet and places like that. That is why these areas are 'up and coming.'

"I think the figures for East Finchley are too high. If they've worked it out using sales in Bishops Avenue for £20million it'll totally skew the numbers."

Average Property Prices by postcode

NW9 (Colindale, West Hendon, Kingsbury) £147,739

NW4 (Hendon) £229,571

NW2 (Cricklewood, Dollis Hill) £248,186

N3 (Finchley) £272,147

N2 (East Finchley) £330,245

N12 (North Finchley) £224,239

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