Hertfordshire's pandemic property prices outperform central London's
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Hertfordshire house prices have risen by 6.1 per cent since the start of the pandemic, an increase well in excess of the 2.9 per cent seen in inner London.
The pre-pandemic average across Herts stood at £394,462 back in January 2020 and is currently £418,638. In inner London the average is now £595,291.
In outer London, prices increased by an average of 6.7 per cent during the same period to reach £450,712. A lift of 5.1 per cent was recorded across the capital as a whole, with the average tipping the half a million pound mark for the first time (£500,310).
Prices have risen by 6.8 per cent across the commuter belt, with the most significant growth (7.8 per cent) seen in Kent.
Lockdown has spurred many movers to look outside the capital for larger homes with more outdoor space, with the ability to work from home removing the need for a convenient commute.
Arthur Sarkisian, managing director of Astons, who carried out the research, said: “There’s no doubting that the allure of the commuter belt has spurred many London homeowners to up sticks and head for the hills. However, rather than a commutable home at an affordable distance, the driving factors have been more green space and a larger property.
"This heightened market activity has clearly had an impact on property prices, with commuter belt property values increasing at a far higher rate than London as a whole."