Huge increase in £1m-plus house sales in St Albans and Harpenden

PUBLISHED: 12:06 28 October 2020

378 homes were sold in the St Albans local authority area in the 12 months to the end of September, an increase of 25 per cent. Picture: Getty Images/iStockphoto

378 homes were sold in the St Albans local authority area in the 12 months to the end of September, an increase of 25 per cent. Picture: Getty Images/iStockphoto

Copyright (C) Andrey Popov

The number of £1m-plus house sales in St Albans and Harpenden rocketed by 25 per cent over the last year, new data has revealed.

According to Savills, 378 homes were sold in the St Albans local authority area in the 12 months to the end of September, up from 303 the year before.

A total of 1,235 homes were sold in this price bracket Hertfordshire-wide, an increase of 32 per cent, with the biggest spikes seen in North Hertfordshire (58 per cent), Hertsmere (44 per cent) and Welwyn Hatfield (38 per cent).

The East of England as a whole recorded an increase of 24 per cent, up from 1,997 to 2,469.

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Nick Ingle, who leads the residential team at Savills in Harpenden, credited lifestyle factors for the big increase in numbers since lockdown began to ease.

“Relocation and staycation locations have been standout performers,” he said. “For London leavers looking for a less dramatic lifestyle shift, and a more accessible commute, uber-towns such as Harpenden and St Albans have proved particularly popular.”

Nick added: “By the year end we now expect the number of £1m-plus sales agreed nationally to exceed 2019 volumes - a performance nobody could have anticipated just a few months ago.

“That said, recent evidence suggests fewer high value homes are now coming to the market, suggesting we may be hitting a high plateau.”


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