In a historic city which offers great commuter links, superb family facilities and highly rated schools, it’s no surprise that house prices in desirable St Albans continue to soar year on year. There’s a wide variety of property types available in this very affluent city; with a selection of modern flats, Victorian terraces, new build family houses, period conversions and cosy historic cottages. This fast paced market is competitive, popular and well respected.
According to Rightmove, there was a 12% increase in the average house price cost when compared to last year. This also equates to a 33% increase on the 2013 average house price, which was £395,216.
Highly regarded Chiswell Green managed an average sale price at £562,839. The highest sale price went to a detached house on Watford Road, which sold for £1,050,000 in August 2016. At the other end of the scale, a 2 bedroom maisonette with some outside space and 2 double bedrooms sold for £259,950 almost a month later, so you don’t need to be a lottery winner to make Chiswell Green your home.
Buying a flat in St Albans
Flats in St Albans are most the in-demand property types, and sold for an average price of £312,496. With an average increase of £25,088, that’s 8% higher than last year’s prices. Buyers can take their pick from modern, purpose built flats, or an apartment in an historic building.
Buying a terraced property in St Albans
The average terraced property sold for just under half a million pounds, at £499,691. With a staggering increase of £51,158 on average, that’s an increase of more than 11%. There’s no shortage of terraced houses in St Albans, and many were built in the Victorian period. A three-bedroom Victorian terrace selling for £832,500 in September; a post-war three bedroomed terraced home, in an up and coming area like Batchwood, fetched £490,000 in October 2016.
Buying a semi-detached property in St Albans
Semi-detached homes are a popular choice all over St Albans, and many semi-detached homes in St Albans are actually considerably larger than average, with extensions commonplace. On average, semi-detached homes in the St Albans area fetched £610,151. Zoopla’s figures calculate that there’s been a 14% increase in prices in the last 12 months. 400 sales of semi-detached homes were completed in the last 12 months. Their popularity means that whether you’re looking for a recently built semi, or something with historic value, you’ll need to spend the higher end of six figures. A post war semi-detached home on leafy Marshal’s Drive recently sold for nearly £2million.
Zoopla’s study of recent sales found that on average, a detached home in the AL postcode cost £785,605, up 2.91% over the last 12 months.
Renting property in St Albans
The rental market is equally buoyant and fast moving. Data from Home.co.uk states that the average rental PCM in the city is £1,342, with homes only on the market for an average of 75 days.
Rental prices are increasing wherever you choose to live in St Albans, with prices across the area rising by 4.4% when compared to last year’s figures. Even council tenants in St Albans saw an increase of 2.2% last year. St Albans was ranked the 16th most expensive place to rent a home in the UK by The Telegraph, but also the 13th best place to live by the Halifax’s annual Quality of Life survey.
Get in Touch
If you’re looking to buy or rent property in St Albans, get in touch with our expert estate agent team today who’ll be happy to help. Alternatively, if you’re looking to sell or let out property in St Albans, why not book a free sales valuation or rental valuation with us to find out exactly what your property is worth.