Property in St Albans is generally holding its value or adding to its worth; over the last 12 months, there has been a 1.34% increase in property values in St Albans. This contrasts with the downward trend in other parts of the country. For example, house prices fell by around 1.9% in London, with some boroughs particularly badly affected, such as the City of London, where drops of up to 23.8% have been reported, and Kensington and Chelsea. During the period from June 2018 to September 2018, the average property value in St Albans went up by 0.41% to an average of £614,496.
Figures from Zoopla show that the average price paid for a house in St Albans in the 12 months to September 2018 was £567,884. The national average across England and Wales is £292,000.
Average prices by property type in St Albans
Detached house: £922k
Semi-detached: £582k
Terraced house: £445k
Flat: £311k
Close to 25% of properties sold in St Albans between August 2017 and July 2018 were in the £500k-£750k price bracket, with properties in the £400k-£500k price range accounting for 16% of sales, and those in the £300k-£400k bracket making up 22% of property sales.
When taking into account the easy commute into London, St Albans represents excellent value for money. It compares favourably in terms of affordability with nearby Harpenden where the average price for a house in the last 12 months was over £1.2 million for a detached property, £705,750 for a semi-detached, and just below £400,000 for a flat.
The average length of time it takes to sell a property in St Albans is currently 98 days.
Why is St Albans popular with home buyers?
Accessibility
St Albans enjoys excellent rail connections, with trains into London St Pancras taking as little as 15 minutes. Thameslink also provides regular services to Luton Airport, Gatwick Airport, and to cities and towns further south, such as Brighton.
St Albans also has good road infrastructure, with the M1 and M25 just minutes from the town centre.
Education
The standard of schools is excellent in the St Albans area, with private education also available.
Countryside
There is easy access to beautiful countryside, with plenty of walking and cycling trails on the doorstep. The Chilterns are also close by.
Facilities and culture
St Albans boasts a wide choice of restaurants, cafes and bars, and hosts an annual Beer & Cider festival as well as a Food & Drink festival.
There is a range of sports facilities in the area, while museums allow you to explore the town’s history, including its Roman heritage.
Even if you are not tempted to live in St Albans, the property in the town is a sound investment, thanks to its excellent infrastructure and proximity to London. It is a popular choice for buy-to-let investors as there is low unemployment in the area and a constant demand for rental properties both from young professionals and families.
Speak to one of our advisors at Daniels today for more information on our latest selection of property for sale in St Albans.