Downsizing in New Southgate: What You Would Actually Release
Selling at the £525,000 New Southgate average and buying at £367,500 releases about £138,550 after costs. Fees, stamp duty and moving take roughly £18,950 of it.
The introduction costs you nothing. If you go ahead, we may be paid a fee by the firm we introduce you to. There is no obligation.
Selling at the £525,000 New Southgate average and buying at £367,500 releases about £138,550 after costs. Fees, stamp duty and moving take roughly £18,950 of it.
Running the downsizing numbers in New Southgate
Start with the gap. Selling at £525,000 and buying at 70% of that, £367,500, leaves £157,500 before costs. Costs are the part people underestimate.
Agent fees at 1.5% are £7,875. Stamp duty on the purchase is £8,375. Total £18,950, leaving £138,550 in hand.
Moving within London rather than out of it keeps you near family and known services. The average price across the county towns we cover is £732,469, against £525,000 here.
Where the sale proceeds go
The commercial page for this town sets out the introduction itself: Equity release in New Southgate.
Two routes to the same cash, priced
A lifetime mortgage at 65 on the same property would release about £178,500. Downsizing nets £138,550. The difference is that downsizing costs you the house, and equity release costs you the estate.
Over twenty years that £178,500 release grows to roughly £628,971. The downsizing figure does not grow at all, because there is no debt.
The parts of downsizing that are not financial
Council tax follows the property, not the person. Band D in New Southgate is £2,268, and a smaller home may sit in a lower band. Check the band before you offer, not after.
Downsizing works best when you are not in a hurry.
What a move within New Southgate looks like
The schools families ask about here are Brunswick Park Primary and Nursery School, St Paul's CofE Primary School N11, Bowes Primary School, Garfield Primary School and Our Lady of Lourdes Catholic Primary School. 2 local schools were rated Good or Outstanding overall at their most recent graded Ofsted inspection. Ratings age between inspections, so read the latest report before you rely on one.
On getting about: New Southgate to Moorgate takes about 20 to 25 min.
By price, New Southgate ranks 229 of the 320 London locations we cover, at £525,000 against a county average of £732,469. Band D council tax here is £2,268, against an average of £2,121 across the towns we cover in the county.
Is New Southgate right to stay in?
New Southgate is a mixed, well-connected and comparatively affordable north London suburb.
The full local guide covers schools, transport and the market in detail: New Southgate property and area guide.
- A well-connected, affordable north London suburb
- Great Northern trains & Arnos Grove Piccadilly close
- Good local primary schools
- Arnos Park, the New River & Broomfield Park
- Real heritage, Colney Hatch & the Baha'i resting place
- A workaday suburb threaded by the North Circular
- Traffic and noise on the A406
- No Tube station right on the doorstep
- Flats/regeneration schemes need lease checks
- Surface-water flood risk near Pymmes Brook/the New River
| Who it suits | Out of five | Why |
|---|---|---|
| First-time buyers | ★★★★☆ | One of the more accessible pockets of north London, purpose-built and regeneration flats from around £300,000 to £450,000, Great Northern trains into Moorgate and the Arnos Grove Piccadilly line close by, a realistic way in that typically undercuts Southgate and Palmers Green. |
| Commuters (Piccadilly & rail) | ★★★★☆ | New Southgate station runs into Moorgate at peak and King's Cross off-peak, and Arnos Grove (Piccadilly, Zone 4) is a short distance away for a direct Tube into the West End and City, a solid dual option, if not a Tube right on the doorstep. |
| Families | ★★★☆☆ | Good local primaries (Brunswick Park and St Paul's CofE are Good; Bowes was judged Outstanding across every area in January 2025), Arnos Park and the New River, and relative affordability, tempered by the North Circular, a workaday feel in parts and secondary options that can mean travelling. |
| Buy-to-let | ★★★★☆ | Strong, steady rental demand from commuters and young professionals, relative affordability and Zone 4 yields, plus a supply of newer regeneration flats, a practical investor market, subject to the usual lease, licensing and tax checks. |
| Young professionals | ★★★★☆ | Newer regeneration flats, Great Northern trains into the City and the Arnos Grove Piccadilly line, and lower prices than the smarter neighbours, a well-connected, affordable base within easy reach of central London. |
New Southgate is known locally for Colney Hatch & Princess Park Manor, and Arnos Park & the Piccadilly viaduct. The vast former Colney Hatch asylum, later Friern Hospital, once the largest asylum in Europe, now the Princess Park Manor luxury flats, one of north London's most distinctive landmarks.
Practical detail for New Southgate: the N11 postcode district, New Southgate (Great Northern, Zone 4), Moorgate at peak, King's Cross off-peak; Arnos Grove (Piccadilly) & Bowes Park close and nearest A and E is North Middlesex University Hospital (Edmonton) or Barnet Hospital (a drive), verify with NHS.
New Southgate has history behind the price. In 1850, The railway station opens as Colney Hatch, and a suburb begins to grow around it.
New Southgate at a glance
| Downsizing line | New Southgate figure |
|---|---|
| Sale price, local average | £525,000 |
| Purchase at 70% of value | £367,500 |
| Estate agent at 1.5% | £7,875 |
| Stamp duty on purchase | £8,375 |
| Legal and moving | £2,700 |
| Total costs | £18,950 |
| Net released | £138,550 |
| Lifetime mortgage alternative at 65 | £178,500 |
Figures are local averages used for illustration. Confirm your own numbers before acting on them.
Ask about New Southgate
Three details is all we need. You are told before anything is passed to a partner firm.
Your checklist
- A real valuation of your home, not the £525,000 average
- The council tax band of the property you are buying
- Total moving costs of about £18,950
- The equity release comparison, in writing, before you decide
The introduction costs you nothing. If you go ahead, we may be paid a fee by the firm we introduce you to. There is no obligation.
Check broadband before you make an offer in New Southgate
Broadband speeds can vary street by street in New Southgate, so check the exact address before you commit. Ofcom's free checker shows which broadband speeds and mobile coverage are available at any UK property.
We can introduce you to a specialist who can combine your mobile, broadband and utilities into one bill. There's no fee for the introduction.
We don't provide these services ourselves. Switching household bills is not a regulated financial service, so FCA protections and the Financial Ombudsman do not apply. We'll only pass your details to the specialist if you ask us to. See our privacy notice.
Questions people ask
How much would I release by downsizing in New Southgate?
Is downsizing better than equity release?
What are the costs of moving?
How do I check broadband speed at a property in New Southgate?
Read next
Your home may be repossessed if you do not keep up repayments on your mortgage.