Market review Harpenden, Marshalswick &

NATIONAL MARKET

16 FEBRUARY 2018 5.2% 99,100 We bring you the latest trends UK house price growth, Transactions in year to December 2017 December, down -0.1% in the UK's housing market, on a year ago Source: ONS with a detailed focus on Source: HMRC Harpenden, Marshalswick & St Albans. National housing market trends House prices 15% UK house prices rose by 5.2% over 2017 according to 10% the UK house price index, taking the average price of a home to £226,756. Within , strongest 5% growth was recorded in the South West (7.5%) and both the East and West Midlands (6.3%). 0% -5% Economy -10% Inflation remained unchanged at 3% in January. The rate was expected to drop slightly from the -15% December figure and a number of measures Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec 17 17 17 17 17 17 17 17 17 17 17 17 including food and fuel prices have begun to fall back. These were offset, however, by a rise in price for Mortgage approvals House prices cultural goods and services.

Transactions Average property values over last 12 months The latest RICS housing market survey highlights the continued low supply of properties on the market at DETACHED SEMI-DETACHED TERRACED FLAT the beginning of 2018 which is affecting the rate of HARPENDEN, sales activity. Of those that do sell, more are MARSHALSWICK & ST £892,127 £607,944 £482,973 £313,818 achieving their asking price than were at the end of ALBANS 2017.

EAST OF ENGLAND £391,010 £282,723 £240,410 £185,838 Demand The number of mortgage approvals fell to their lowest level in almost three years in December ENGLAND & WALES £338,903 £207,923 £175,313 £213,691 according to the Bank of England. Just 61,039 mortgages were approved for home ownership, more than 10% below levels a year earlier. The downturn may be overstated, however, as some Annual change in private rents to January 2018 by region buyers rushed to secure deals before interest rates were raised in November.

1. London 3% 2. South East Investment 3. South West 4. Tenant demand across much of the country edged 2% 5. East Midlands upwards in the three months to January, while 6. West Midlands landlord instructions fell back according to the latest 7. Yorkshire & The survey from the Royal Institute of Chartered Humber Surveyors. Agents are moderately positive about 1% 8. North East rental price growth over the next three months. 9. North West 10. Wales 11. Scotland 0% 1 2 3 4 5 6 7 8 9 10 11 % change

Source: Dataloft, Land Registry, Bank of England and ONS

Harpenden, Marshalswick & St Albans

LOCAL MARKET ROUND UP THE LAST 3 MONTHS, TOP 3 TRANSACTIONS

Over the last 12 full months there have been 2,138 sales in Harpenden, £3.116m Marshalswick & St Albans. This is a EAST COMMON –16% change on the previous 12 month AL5 period. The average sales price was £529,830. £2.94m AYRES END LANE AL5 Transactions by price band over the last 12 months NATIONAL HARPENDEN, MARSHALSWICK & ST ALBANS

less than £100k £2.05m £100k-£250k £250k-£500k AVENUE ST NICHOLAS £500k-£750k AL5 £750k-£1m £1m-£2m £2m-£5m £5m+ HOUSE PRICE GROWTH OVER 1 YEAR AND 5 YEARS

Percentage of sales by property type over last 12 months

+6% +42%

26% 26% 25% 24% STREET WITH MOST TRANSACTIONS Apartments Terraced Semi-detached Detached IN LAST 3 MONTHS

Average prices over last 12 months

£1,000,000 LONDON ROAD, AL1 £750,000

£500,000

£250,000

0 Flat/Apartment Terraced Semi-detached Detached Harpenden, Marshalswick & St Albans East of England

Source:Dataloft, Land Registry

CONTACT If you're thinking of making a Andrew Bradford Bradford & Howley 37 Chequer Street, move, we would love to help. 01727 898150 St Albans, [email protected] , AL1 3YJ Please call your local office for a free Valuation

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