St Albans house prices up £160k in a decade
PUBLISHED: 11:57 09 April 2018
Figures from Lloyds Bank show house prices in St Albans have risen by almost half in 10 years
House prices in St Albans have increased by almost half in the past 10 years.
The 44 per cent rise from an average of £365,841 in 2007 to £525,736 last year makes it the city with the second highest increase in the UK, according to figures from Lloyds Bank.
The cost of a home in the historic Hertfordshire city is now 8.7 times the average annual earnings of those who live there, placing it among the 20 least affordable out of the 61 in the survey.
At just 20 miles from the capital, with good transport links and an historic centre based around the medieval cathedral with a range of high end independent shops and good schools, it has attracted buyers looking for homes near London without the capital’s price tag. Its popularity has taken it near those price levels however.
On another house price monitor, housing market website Rightmove in February recorded Hitchin tying for third place in a list of the UK’s fastest selling property hotspots. Homes selling for an average of £432,501 took just 21 days to find a buyer.