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Home Counties’ house price rises outpaces the Capital

by: Mortgage Solutions
  • 05/12/2016
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Property prices are rising rapidly in several Home Counties commuter towns, so much so that they are even beating annual price increases in the capital, according to Garrrington Property Finders.

The buying agents said that, according to Land Registry data, in the 12 months to September, average prices of all London property types rose by 11% – outpacing the 10% chalked-up in south east England.

But big discrepancies opened up across the commuter belt, with price rises in several Home Counties areas easily outstripping those in the capital.

Hotspots in the Home Counties

Garrington has identified the Home Counties’ top hotspots, ranking the areas and property types that have seen the fastest price increases, and calculating how much an average home in each will have risen in value during the past year.

Top of the table was Brentwood in Essex, a 35-minute train ride from London. With prices rocketing by 16% a year, with an average semi-detached home in the town appreciating by £64,289 in the 12 months to September – enough to buy 19 years’ worth of rail season tickets at today’s prices.

Canterbury in Kent also experienced price growth of 16% last year with an average terraced house in the city rising in value by £35,899, while detached homes in Hertford rose in value by 15% – with an average gain of £83,553.

However the greatest equity gain of all was made in Theresa May’s constituency of Maidenhead; with detached homes in the Berkshire town piling on £91,131 in a year, a 14% annual rise.

Jonathan Hopper, managing director of Garrington Property Finders, said: “Every year tens of thousands of Londoners move out of the capital to the surrounding commuter belt, driven by a desire for better value, more space and a wider choice of schools.

“But in addition to the usual shopping list for would-be commuters – good transport links, good schools and so on – many buyers will also have one eye on the potential for price growth when choosing a location.

“Our research shows just how ‘hot’ some of the Home Counties’ hotspots have become, with price rises outstripping those in London. The combination of both better value and better rates of capital appreciation is a compelling one, but the picture across the commuter belt is very mixed – and buyers need expert intelligence to identify the areas with the greatest potential.”

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