Revealed: The most and least expensive places to buy a property in Hertfordshire
- Credit: Archant
The most expensive place to buy a property in Hertfordshire has been revealed – and it isn't St Albans or Harpenden.
Chorleywood claimed the top spot in a new countdown, with an average sale price of £1,019,821 – almost double the Herts-wide average of £516,536.
The Savills research used Land Registry data to compare the average price in each place to the county average, with Harpenden coming second highest at £834,083.
Berkhamstead was in third place at £669,053, followed by St Albans' £611,707.
At the opposite end of the table was Stevenage, with an average property price of £326,384 making it the most affordable place on Savills' list.
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Nick Ingle, head of residential sales at Savills in Harpenden, acknowledged that there would be a degree of variation within the figures, with the results being skewed in some areas by a handful of high value roads.
"That said, we continue to be in somewhat of a purple patch," he said. "The lifestyle factors that have driven the market since the pandemic continue to be the main focus for a lot of home moves.
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"Attractive towns that are well connected, have an array of good family housing stock, with access to lots of green space and a choice of amenities appeal to a broad profile of buyers.
"The weight of demand here in Hertfordshire, coupled with an acute shortage of stock and record low interest rates, has translated into rapid price growth."
Nick added: "The likes of Harpenden, Berkhamsted and St Albans have excellent transport links and a superb range of shops, gastropubs, restaurants and leisure facilities, as well as excellent schools and lots of open countryside on the doorstep – so it’s perhaps no surprise to see them in the top five.
"However, what the figures also show is that there are other towns where – relatively speaking – the cost of property is comparatively more affordable. Tring and Welwyn Garden City for example both have good links into London and a variety of good quality family housing, with lots of surrounding green space, yet the average price is below the county average.”
In the wake of Savills' findings, St Albans has been named the least affordable place to live on minimum wage in the UK outside London.
According to research by Investing Reviews, the total monthly cost of living in St Albans, including rent, is £1,916.85, while the average minimum wage earner aged 23-plus is taking home just £1,356 – a £560.85 shortfall.