The decision to renovate and refurbish is never one that householders take lightly. Before embarking on home improvements, property homeowners in Hertfordshire want to feel confident that this will be money well spent. Given the uncertain political situation in the UK, the recent Barclays Property Predictor offers some welcome reassurance for those keen to complete home refurbishments.
UK property prices to 2021
In common with other housing market studies, the Barclays Property Predictor forecasts steady growth over 5 years from 2017 to 2021. House prices in the UK are set to rise by 6.1% (to an average of £300,000) by 2021, according to Barclays. The study looks at forecast property hotspots, where the highest growth is predicted in property and private rental prices. The research draws upon data on the current housing market, the jobs market, commuter behaviour and the local economy.
East of England growth to outpace national average
In contrast to other studies, Barclays predicts that growth in London and the East of England remain ahead of the national rate. The East of England region comprises Hertfordshire, Cambridgeshire, Bedford, Essex, Norfolk and Suffolk.
- Highest growth regions: 11.88% in London and 9.38% in East of England
- Average national growth: 6.1% forecast for the UK as a whole
- Regions with lowest growth: 3.04% in Northern Ireland and 2.88% Wales
Top 5 East of England growth hotspots
Growth for the East of England is forecast at 9.38% over the next 5 years with three Hertfordshire districts ranked in the top 5 and set to outpace regional growth.
- St. Albans, Hertfordshire
- Three Rivers, Hertfordshire
- Uttlesford, Essex
- Hertsmere, Hertfordshire
- South Cambridgeshire
St Albans city and district includes the major towns of St Albans and Harpenden as well as Wheathampstead, Redbourn, London Colney, Chiswell Green and Bricket Wood. Three Rivers includes the towns of Rickmansworth and Chorleywood. Hertsmere district covers Borehamwood, Bushey, Potter Bar and Radlett.