Most Expensive and Least Expensive Properties in Harpenden

It's been a little while since I wrote about this topic so I thought I'd review it to see if anything had changed since my last article which you can find here.

First I'll look at the list of the most expensive streets in Harpenden.

Most expensive 

Clearly the data is sparse for West Common Close but it shows that, with an average transaction value of £3.6m this is the number one most expensive place to buy property in Harpenden.

Park Avenue South tops Park Avenue North by just over £170,000 in capital value, on average. Swiftly following on their heels are Cross Lane and Oak Way. Interestingly these areas are split between the avenues in Central Harpenden and roads set to the south of Harpenden around East and West Common, which may come as little surprise to many but it's worth noting that a significant number of properties in the avenues areas are easily competing and surpassing the East and West Common neighbourhoods which formerly were, according to many, the ‘Holy Grail’ of Harpenden living – perhaps we will see more of this balancing with further building of luxury property in central Harpenden in years to come.

For a bit of fun, the mortgage payments for a property on West Common Close would come to approximately £7,753 per month at 3% over 30 years, and that's if your LTV is 50/50. How do you feel about spending £93,000 per annum just on your mortgage? Of course, these property purchases work differently at this level, but even still it's a considerable investment and fascinating to put into real terms. It would be a bad day indeed if interest rates change for the worse!

Least expensive

 

Moving on to the least expensive roads in Harpenden, the latest data shows that the lowest priced development in Harpenden is Reed Place on Bloomfield Road, being flats this is to be expected. The remainder of the roads are generally centred around Westfield and Batford in the Northern and North East side of Harpenden, save for Loire Mews which lies off Cravells Road.

An interesting matter to note is that, while these are merely average values and do not show the lowest priced property, it does show that even the most affordable areas in Harpenden are close to the national average house price. This perhaps isn't good news for those moving within the town, or for those moving in, but for anyone imminently moving away from the area, any equity gained here will stand you in good stead for purchasing more land and more space elsewhere in the country.

Again, in terms of mortgage payments and following the same figures as before although this time using a 10% deposit, (3% interest rate and a 30 year repayment term) the monthly payments would be a far more manageable £817pcm or £9804 per annum - although do bear in mind this is likely to be a once or two bed flat or starter home. Food for thought!

Highest turnover

Now moving on to the highest turnover streets (where properties change hands most frequently) we see that Station Road tops the chart for properties with a large number of families moving in and out of homes on that road. This data is a little predictable in so much as the roads concerned are either main roads or long roads with higher numbers of residential properties on them, but still it's an interesting metric to note to those looking to move locally or those looking to move into the town (budget permitting of course) as these may be roads to keep an eye on as properties are likely to come up in these locations more often.

I hope you've found this useful, interesting, informative, or even just a bit of a fun insight into the Harpenden market as it currently stands. If you're interested to know more, please go ahead and get in touch on info@hawkandchadwick.co.uk

Check out the Harpenden Property Blog too!

Since it's been such a massive success in such a short time, we decided that rather than try to combine the two towns, they deserve their own sites, so here's the sister page for the Harpenden Property Blog;

http://harpendenpropertyblog.blogspot.co.uk/

Please take a look and let us know what you think!

House Prices in Hertfordshire - who gave us more, Labour or Conservatives?

Now here's some interesting statistics.  The graph below shows the trend in house prices in Hertfordshire since David Cameron's Conservative party came to power in May 2010 in coalition with Nick Clegg and the Liberal Democrat party.



In 2013 the market suddenly rocketed upwards and has been on a steady increase ever since. Now compare this to the chart below which details the performance of house prices in Hertfordshire under the Labour government term, starting with Tony Blair in 1997 and ending with Gordon Brown in 2010 (Gordon came to office at Number 10 in May 2005)



It's interesting to note that the general performance of both governments generally seem to have had a positive influence in rising house prices, which is handy for those owning property, although Labour have clearly had to carry the can for the economic collapse during their term.

This analysis is important as it gives an impression of how different governments deal with creating wealth through housing - the Conservatives seem to be able to generate property wealth much more rapidly than Labour which shows how their respective policies to government operate.

It'll certainly be interesting to plot the rise (or fall!) of house prices in Hertfordshire over the next five years with the next government.  What do you think will happen to house prices if we have a UKIP / Labour coalition?  What if Conservatives remain in power?  Post your thoughts in the comments below.

If you're interested in knowing what YOUR home is worth, contact me directly over at Hawk And Chadwick on 01727 226 253 or 01582 346 111.

St Albans and Harpenden House Prices - Have we hit the top of the market?

I was doing some research today and looking through house price data, and found this information which I found really interesting and so I have decided to share it with you.

The graph above shows the House Price growth in Hertfordshire since 1995. You can plainly see the astronomical growth enjoyed in the Hertfordshire region, topping out at today's average price of £410,175 (source: Zoopla.co.uk).

But how does this pan out in the St Albans and Harpenden area?

Well, narrowing things down, in St Albans the prices are above the Hertfordshire average at £495,183 with an average asking price of £691,585 (meaning most properties currently on the market are over valued by 14%) so take that into account when making your offers.

Just up the road in Harpenden the average home owner enjoys 43.38% more equity in their property with an average house price of £709,980. Interestingly though, the latest data suggests that Harpenden prices have started to cool in the last year with home owners feeling the stinging ripples of the softening London housing market.

Prices are down on average by just £1,503 in the last year, which may seem like a drop in the ocean, but this cooling could be hinting at a soft market correction, which may indicate that now is the time to sell if home owners are to retain their equity.

What do you think?  Please feel free to share your thoughts in the comments.

Landlords must improve Draughty Properties

Landlords must improve draughty properties

St Albans and Harpenden Landlords may be interested in reading through this article, particularly if you are the owner of an older property that lacks double glazing, modern doors and insulation measures. It will soon be law that Landlords must improve draughty properties to comply with new EPC guidance.


Luckily most homes in the local area already have significant improvements since the introduction of EPC’s and HIPS in 2005/2006, but some older homes that are new to the market may be caught out by the new laws which could significantly impede any plans to generate an income from empty property.


Not only this, but properties with low EPC ratings give tenants and buyers significant leverage when making offers due to perceived higher heating bills. Since Landlords must improve draughty properties it is worth spending the extra to provide adequate insulation and draught prevention measures where required.


“Landlords with properties rated F and G will be unable to let them out from 1 April 2018 as new legislation will see landlords banned from renting out England and Wales’ draughtiest homes.


The regulations also mean that from 1 April 2016, tenants living in F and G rated homes will be able to request improvements, such as more insulation. The landlord will then be legally bound to bring the property up to an E rating.


Almost 10% of England and Wales’ 4.2m privately rented homes* currently fall below the E rating. (Source: Government statistics, February 2015).


It is estimated that….[Read More..] “






For more information on how you can improve your EPC rating, refer to the existing EPC for your property which you can access on The EPC Register by using your postcode and searching for your house number. Once you open the EPC, it will contain guidance on improvements that can be made to boost your EPC rating. A re-assessment will cost anywhere between £40.00 and £100.00 to complete, with certificates usually dispatched via email within three working days.