St Albans has fastest growing property prices in Britain

 

St Albans is boasting Britain’s strongest house price growth over the past year, according to Nationwide. The average cost of a home in our historic town is now £494,777 after prices rose by 24% in the 12 months up to September 2014. This puts St Albans at the top of the table of “best performing” regional towns and cities, ahead of London, where prices are up by nearly 22% in the same period.

 

The Top 20 Towns and Cities for House Prices In 2014 

 

 

Town/City

 

Annual % Change

 

Average Price

 

1   

 

St. Albans

 

24%

 

£494,777

 

2

 

Reading

 

19%

 

£318,333

 

3

 

Belfast

 

17%

 

£189,245

 

4

 

London

 

16%

 

£446,455

 

5

 

Nottingham

 

14%

 

£174,076

 

6

 

Bristol

 

14%

 

£277,638

 

7

 

Brighton

 

13%

 

£394,755

 

8

 

Aberdeen

 

12%

 

£272,978

 

9

 

Cambridge

 

12%

 

£414,439

 

 

One of the main reasons for this is the increasing number of families moving out of London, choosing instead to commute into the city for work. As it is only a 20 minute train journey from St Albans to London's St Pancras, commuters can enjoy the benefits of the areas fantastic schools, beautiful parks and green spaces, as well as the surrounding countryside and historic town centre.

 

Remarkably, in the first six months of 2014, more £1 million properties were sold in St Albans than in the whole of Scotland. Research by Lloyds Bank found that 66 properties worth at least a million pounds were sold in the first half of the year. Whilst, over the same period in Scotland, 43 homes were sold for at least £1 million.

 

“Now is the clearly the time to buy in St Albans. When taking such a valuable step it is essential that you invest in the best professional advice to minimise the risk and protect your assets.”Michael Labrum

 

For more information or to discuss your property queries, please contact us today – call us on 01727 858807 or email us crt@labrums.co.uk