St Albans and Harpenden named among UK's most expensive places to buy property
- Credit: Archant
St Albans and Harpenden are two of the most expensive places in the UK to buy a second-hand home, new research has confirmed.
According to Savills data, only 37 of the UK's 1,040 towns and cities had an average property price in excess of half a million pounds during 2020, and our areas were among them.
Harpenden took things a step further, making the list of eight places where average prices exceeded £750,000.
Nick Ingle, who leads the residential sales team at Savills in Harpenden, said buyers planning for the ‘new normal’ were driving increased interest.
“As life begins to return to normal, and bars, shops and restaurants continue to reopen, the accessibility and convenience of being close to these amenities will once again be at the forefront of people’s minds when searching for their next home,” he said.
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“Attractive towns that are well connected, have an array of good family housing stock and a choice of high-performing schools appeal to a broad profile of affluent buyers. The likes of Harpenden and St Albans – with an abundance of countryside also on the doorstep – are no exception and remain incredibly popular."
The average second-hand sale price in St Albans last year was £576,975, while in Harpenden it was £845,569.
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Northwood was the priciest place in Herts with an average of £1,165,417, followed by Chorleywood (£985,451) and Harpenden.
Berkhamstead was next up with an average of £669,716, followed by fifth place St Albans.
The most affordable area of Hertfordshire was Stevenage (£309,257).
Nick added: “Young, wealthy families understandably see the appeal of urban living, while an increasing number of empty nesters looking to downsize are also looking for access to good restaurants, shops and leisure facilities.
“Looking forward, the value on offer in village and rural areas will continue to support prices across these markets, but just as importantly, the value gap between London and prime regional towns and cities will also continue to drive additional demand, particularly from those looking for more space.
"And while there are some towns in Hertfordshire where the price is above the county average, there are others – Stevenage for example – that represent good value for money.”