Whether you are looking to make a property move in the near future or not, there is a lot to be said for staying in touch with current property prices. For some people, this information is good to know, helping them to remain informed of the current market while helping to start a few conversations with friends and neighbours.
However, there will be people looking to buy or sell in Herts in the near future, and it is important to make an informed decision. There are many factors to consider in the property market but current property prices are hugely important. At Country Properties, we aim to keep you as fully informed as possible, so if you are looking for current property prices in Herts, as of March 2019, we are here to assist you.
Stay up to date with the latest Herts property prices
In this overview, we will consider property prices in Hemel Hempstead, Stevenage, Watford and St Albans. The figures used in this overview are taken from Zoopla at the start of March 2019. While Zoopla figures will not represent every sale in the market, they provide a more up-to-date snapshot than figures provided by the Land Registry.
The current average prices for these areas are:
- Current average price of property in Hemel Hempstead is £371,932
- Current average price of property in Stevenage is £301,584
- Current average price of property in Watford is £425,353
- Current average price of property in St Albans is £567,013
These four sets of prices indicate that there is a spread of average prices in these areas, ranging from £301,583 in Stevenage to £567,013 in St Albans. Anyone who knows these areas will not be surprised to learn that there is a divergence of average prices and of course, this means that there are many options for prospective buyers to consider in Hertfordshire.
It is vital that buyers know their budget and look at appropriately priced property. The range of average property prices in the area should mean that there is something for a wide range of buyers, which is positive news for vendors as it is for buyers.
Of course, average prices for towns is great for people making comparisons or who are keen to narrow down their options. However, if you have a specific property purchase in mind or you are looking to sell a property, it is important to consider more relevant information.
Focus on property prices that are relevant to you
If you are selling a flat in Stevenage, the price of detached properties in Stevenage isn’t going to be too relevant, let alone the price of detached properties in Watford or St Albans. Therefore, there is a need to focus on relevant average prices for property, and in the following sections, we will consider the average price of property types across these leading areas in Herts.
- Average price paid for flats in Hemel Hempstead in the past 12 months is £233,584
- Average price paid for flats in Stevenage in the past 12 months is £183,379
- Average price paid for flats in Watford in the past 12 months is £268,992
- Average price paid for flats in St Albans in the past 12 months is £332,435
This information can be seen in the table below:
With respect to terraced properties, the average price paid in Hemel Hempstead in the past 12 months is £343,232 while in Stevenage for the same period, the average price paid was £278,994. In Watford, the average price paid for terraced properties in the past 12 months is £383,259 and in St Albans, the average price paid was £515,499.
With respect to semi-detached properties, the average price paid in Hemel Hempstead in the past 12 months is £422,249 and for Stevenage, the average price paid for semi-detached properties was £351,410. As for Watford, the average price paid for semi-detached properties is £470,393 while St Albans has an average price paid of £624,689.
- Average price paid for detached properties in Hemel Hempstead in the past 12 months is £603,065
- Average price paid for detached properties in Stevenage in the past 12 months is £479,281
- Average price paid for detached properties in Watford in the past 12 months is £746,578
- Average price paid for detached properties in St Albans in the past 12 months is £835,443
This information can be seen in the chart below:
One issue that has been important for vendors and buyers alike in recent years has been the asking price of property. In 2017 and 2018, the gap between the asking price and the sales price grew to a sizable level, impacting on vendors perceptions and buyers willingness to engage the market. More recently, the gap hasn’t been as prominent, but it is still an issue that people should remain aware of in the property market.
There will undoubtedly be interest in the fact that the asking price for five-bedroom property in St Albans breaches the one million mark. Also, the £1,083,733 asking price is more than double the asking price for five-bedroom property in Stevenage, which comes in at £512,000. There is clearly an extensive range of asking prices in Hertfordshire, but we would like to remind people that while average prices are interesting, they are not always informative for each home.
If you are selling your home and your home is better than the average property in your local area, there is nothing wrong with pricing your home at a higher rate. The most important issue is being able to justify the price you charge, and this is why it is important that you call on an expert who can provide you with guidance and support in this matter.
Anyone looking to stay up to date with what is happening in the Herts property market or who is keen to make a move soon needs to be fully informed. At Country Properties, we are local property market specialists and we take immense pride in ensuring our clients remain up to date and fully informed as to what is happening in the local area. Whatever move you are keen to make in or around Herts, get in touch and we will be more than happy to assist you to make an informed decision.