Agreed property sales double in St Albans

Property sales agreed in St Albans have risen by more than 100 per cent over the last year, one of the biggest increases seen anywhere in the UK.

According to data agency TwentyCi, there were 208 sales agreed in the city in the four weeks to August 16 2019, compared to 441 in the same period this year – an increase of 112 per cent.

Aberdeenshire saw the biggest increase (164 per cent), followed by Broxbourne (150 per cent), Aberdeen City (124 per cent) and Stevenage (120 per cent). East Hertfordshire and Winchester tied behind St Albans with a 111 per cent lift.

The data, which was drawn from all the main property portals, found that the number of sales agreed during this period was higher than a year ago in 375 of the UK’s 378 local authorities.

St Albans saw the tenth biggest increase, and was one of 23 areas where agreed sales were more than double the levels seen in 2019.

Kris Smith, associate director in the residential team at Savills in Harpenden, said his office had seen a surge in the number of sales being agreed since the housing market reopened in May.

He described St Albans as a “classic London relocation market”, adding that the high number of agreed sales have been “substantially boosted by activity in surrounding villages... with particularly strong demand from those who want the benefit of countryside living within striking distance of a bigger, well-serviced conurbation.”

Kris added: “These drivers have supported demand in locations such as Broxbourne and East Hertfordshire. Stevenage meanwhile provides more affordable family housing for those with lower budgets.

“The uncertain economic backdrop and the finishing of the furlough scheme at the end of October means short term price expectations remain cautious, though buyers appear willing to take a longer-term view.

“Keeping buyer and seller expectations on pricing aligned will be key to maintaining the summer momentum through the autumn and beyond.”