📈 Market Reality: The Cost of London Living

Thursday 11th September 2025

Ballards Lane, North Finchley, N3

N3 House Prices Fall More Than the London Average: What Does it Mean for Extensions on Ballards Lane?

According to provisional ONS data released in September 2025, Barnet's average house price fell by 2.7% over the previous 12 months—a steeper drop than the London average of 1.8%. For high-value, semi-detached family home areas like Ballards Lane (N3), this creates a specific challenge for our clients.

When house prices are rapidly appreciating, homeowners are more likely to spend large sums on major extensions, confident that the cost will be covered by rising equity. When the market cools, as it did in 2024–2025:

The ROI Question: Clients become intensely focused on the Return on Investment (ROI) of their extension project. They require far more detailed evidence that our work adds measurable value, often through the inclusion of high-spec finishes, smart technology, or superior energy efficiency (in line with Part L) which yields lower running costs.

The Renter/Buyer Divide: While house prices softened, private rents in Barnet rose sharply (up 6.9% annually by October 2025). This disparity reinforces the pressure to deliver homes fast for the rental market but makes the typical homeowner extension project subject to more financial scrutiny than ever before.

Robbins Construction Ltd Opinion: This trend means quality over volume. We must be able to demonstrate that our construction adds tangible, long-term value, not just floor space. The debate in N3 now centres on premium specifications—is it worth spending 10% more on insulation and triple-glazing to secure a 30% reduction in heating bills, or is the client purely chasing low upfront Total Cost? Our role is to guide clients toward the long-term, sustainable value.