Revealed: The five areas of Hertfordshire where the average home costs more than £1m
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Seeking a piece of premium Hertfordshire real estate? You need look no further than Three Rivers.
According to latest Savills analysis of Land Registry data, Moor Park & Eastbury is the Herts local authority ward with the highest priced properties.
The average sale price in this exclusive enclave, nestled within the triangle formed by Rickmansworth, Watford and Northwood, was £1,329,882 during 2021.
It was one of just five Herts local authority wards with an average price in excess of £1m, up from two such areas in 2020.
Second most expensive was Aldenham East, with an average price of £1,329,291, followed by Ashridge (£1,280,762), Chorleywood North & Sarratt – also in Three Rivers – (£1,099,700), and Aldenham West (£1,067,316).
The best-performing ward in St Albans district was Harpenden West, where the average was just shy of the million pound mark at £957,753 (placing it seventh on the list behind Elstree's £972,315). Next up locally were Harpenden South (£881,385) and Marshalswick South (£784,827).
The average sale price in Harpenden as a whole was £846,577, a 7.1 per cent increase year-on-year, while in St Albans the figure was £642,128, up 5.3 per cent on the year before.
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Nick Ingle, head of residential sales at Savills in Harpenden, said: “While the recent burst of house price growth was kick-started by the stamp duty holiday, continued momentum in the market has been fundamentally underpinned by low interest rates and people’s reassessment of their housing needs.
“After such a strong market last year we know there’s likely to be less urgency at some point in 2022 – but that’s not necessarily something that we’re experiencing at the moment. Since we returned from the Christmas break we have continued to be exceptionally busy. New buyer demand is running at more than double normal levels for this time of year – suggesting a great many people are still hoping to move."
Family homes in well-connected towns and villages close to amenities continue to be in highest demand, Nick said, with a great many buyers still coming from London.
“The real issue is stock," Nick said. "There are still not enough properties on the market to meet demand. As a result we are seeing some very competitive bidding and best in class properties are selling for above their guide price.
“With its connectivity to the capital, excellent schooling, variety of high quality housing stock and access to lots of green space, Hertfordshire will continue to be a popular choice for a wide number of people. Consequently, I think it will remain a sellers’ market in the short term."