Strong house price growth predicted for St Albans and Harpenden
On the up: local house prices are expected to increase substantially by 2024. Getty Images/iStockphoto - Credit: Getty Images/iStockphoto
St Albans and Harpenden are set to experience house price growth of more than 10 per cent by 2024, new data has revealed.
Kris Smith, from the residential team at Savills, Harpenden - Credit: Archant
According to Savills' latest five-year forecast, properties in the East of England will increase in value by 10.9 per cent during this period.
At the top end, prime properties - those whose prices put them among the top 5-10 per cent of homes within what's classed as an 'inner commute' of London - are expected to see an increase of 13.6 per cent.
This predicted growth won't happen overnight, however: no increase in property prices is expected to occur locally until 2021.
Kris Smith, from the residential team at Savills Harpenden, said that growth within the East of England had been "consistently strong" over the past decade, on a par with or in excess of the national average, "so it's perhaps no surprise that we are now predicting a slight slowdown in the market".
He said that we are "fortunate to live in a very sought-after area… that offers excellent value for money when compared to London. Even this year in the face of considerable political and economic uncertainty there has been strong demand from motivated buyers."
Kris added: "Properties in Harpenden and St Albans' town centres - close to the railway station and within easy reach of shops and restaurants - have proved particularly popular, as have those in well-regarded villages such as Redbourn, Kimpton, Wheathampstead and Studham."
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UK-wide, average prices are expected to rise by 15.3 per cent over the next five years, with highs of 24 per cent predicted for the North West and lows of 4 per cent in Greater London - though prime central London is expected to experience growth of 20.5 per cent.
