Even as the Shofar blows on Rosh Hashanah I know that I, like so many others in our community, will find myself looking back on what this passing year has brought – personally, spiritually, and for our community. I speak not only of the local Jewish community that my family and I are a part of, but also of Edgware’s harmoniously diverse and joyfully cosmopolitan community as a whole. It is a community like so many others across our capital city, and indeed our country, that in these globally and even nationally tense times shows us not only what is possible, but what is ideal.
It has been a year of change for myself and my family, and indeed a year of change for Edgware, in more ways than one. And there is greater change to come.
Working in property gives me the opportunity to meet local people during life-changing moments. It is my greatest privilege to be able to help people navigate those life events: perhaps it’s the young couple who have sacrificed to save the deposit for their first purchase, and now need someone to help them achieve it; maybe it’s those stepping up the ladder to accommodate their growing families, or even upsizing simply to make the most of a career advancement and the extra salary that comes with it.
It is wonderful to be there to help people make these positive life changes.
Some life events can be less happy. My job then is not simply about providing professional assistance; it is as much about providing the steady hand, sympathetic ear, and reassuring voice that helps them through life’s less-kind moments, such as separation, divorce or, sadly, the passing of loved ones, and the often-stressful task of dealing with the administrative aftermath, including the selling of their home.
A year is a long time. Time enough to bring all sorts of change to our lives – some happy, some unhappy, but all part of life’s great cycle.
I write that last line with thoughts for my own Mother, who passed this August following a short illness; a most unhappy moment for the Peterman family. Then again, I reflect too on the birth of my cousin’s son in June – a most happy event for the Peterman family.
On the property front, Edgware has enjoyed a lively twelve months. Average property prices locally have fallen by 4.7%. A correction, not a crash, given that values in Edgware and across the Borough of Barnet increased further and faster than the rest of London over the previous year, according to data from the Office for National Statistics (ONS).
Petermans Estate Agents has, however, seen an increased demand from purchasers moving into the area as well as the usual movements within, and in the past 12 months we have sold a record number of properties for in excess of £1m.
On the rental side, rents here have climbed steadily, by 6.8% in a year according to ONS figures, as demand from tenants continues to outpace supply. The average rent is now £1,886 – a reason that so many first-time buyers are now registered with our estate agency, looking for their first home instead of choosing to continue to rent.
For families looking to put down roots, Edgware remains one of North London’s best-kept secrets: a place with strong schools, green spaces and a thriving community – not least, our own community.
That’s not to say it has all been smooth sailing. The wider economy, tax rises and ever-changing rules for landlords – with greater legislative change yet to come once the Renters’ Rights Bill passes through parliament, now thought to be just three or four weeks away – have kept many of us on our toes.
The market for leasehold properties has been more stubborn than the freehold market, with buyers more price-sensitive than in recent years and sales of apartments taking several weeks longer to progress.
Perhaps the biggest property news locally is that the green light has been given for the Broadwalk Shopping Centre redevelopment, as reported here in The Estates Gazette. Planning consent has been granted for over 3,300 new homes plus 465 student accommodation places, alongside restaurants, a cinema, new public spaces, a community centre and a library. A re-imagining not just of our town centre, but of our local way of life.
It is regeneration on a grand scale, and the sentiment amongst local people in the Edgware community is mixed.
Over 3,300 new homes will mean many more local residents. For some this is a cause for concern. What will the effect be on traffic? How will local medical services cope? How about schools?
On the other hand, it is a regeneration that will create jobs, attract new investment, and bring opportunities for younger people to live locally rather than be priced out. For our shops, cafés, restaurants and other local businesses, it could be a real shot in the arm. Change on this scale will take time – and no doubt we’ll have spirited discussions along the way.
Yet, I believe the potential for Edgware is enormous, if handled correctly.
Our community has always adapted through change. We’ve seen it in the story of local schools, the flourishing of local enterprise, and the way that Edgware has become a place that people from so many walks of life and so many different backgrounds are proud to call home, together. It is a place to co-live, not just a place to coexist.
I’m confident that the coming years will see Edgware not just grow, but prosper, and that includes this new year to come.
From all of us at Petermans, I wish you and your families a happy, healthy, and peaceful year ahead.
Shana Tova,
Howard Peterman
Author of The Edgware Edge Blog
Owner/Director of Petermans Estate Agents, Edgware