Hertfordshire's property price gap revealed
- Credit: Archant
Hertfordshire's higher end homeowners are paying almost double the county's average house price to secure their property.
According to research by GetAgent.co.uk, Herts homebuyers had to spend £844,000 to be within the top 10 per cent of local sales during the last 12 months, while the average property price in June stood at just £424,453 – a 98.8 per cent difference.
England's biggest price gap – 142.9 per cent – was in Durham, however, while Greater London's difference was fifth largest at 115.6 per cent.
The Herts market had the 17th largest gap of the 48 ranked areas, with Leicestershire coming bottom of the table with a 68 per cent difference.
Greater London was England's most expensive market by far, with an average house price of £510,300 (though this was some way off the £1.1m needed to be within the top 10 per cent).
Founder and CEO of GetAgent.co.uk, Colby Short, said: “We’re unlikely to see the might of the London market challenged when it comes to the sheer cost of bricks and mortar, and the capital remains home to not only the highest average property price but also the most expensive price tag when looking at the very top end of the ladder.
"However, when considering the gap between the two, there are a handful of other counties where the top rung of the market sits even further above the average property price.
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"This means that for homebuyers in Durham, Northumberland, Rutland and Cheshire, the task of securing a foot on the property ladder may be far more affordable, but the task of reaching the top of the ladder is more daunting when compared to those in London.”