A historic cathedral city, St Albans offers a swift London commute and easily remains as one of Hertfordshire’s more prestigious towns.
Like London, St Albans is home to a number of leading schools and has a bustling community. It’s home to a number of open, expansive commons and the countryside that gives homeowners access to life outdoors whilst living in high-quality properties that offers a short commute into London.
“Housing affordability is likely to have helped sway the decision of some to leave London,” explains Tom Bill, head of London residential research at Knight Frank. “While this highlights a potential longer-term risk for the capital’s economy, for others, exceptional house price growth in London in recent years will have enabled them to make the move.”
As new builds reach the highest level since 2007, St Albans remains a highly-attractive location for young families and those looking to enjoy a London lifestyle whilst having access to large open spaces.
Given that St Albans consistently ranks on The Sunday Times top 20 areas to live in the south-east, it’s no surprise that the area continues to sell properties for prices closer to London prices. What will sell your property development?
St Albans is recognised as remaining highly affordable and connected with London. In fact, a survey conducted by Yopa Property Limited found that it is the most affordable and accessible places to live outside of the capital.
“St Albans is a gorgeous cathedral city which has plenty of character, a bustling centre and lots of open space,” said Yopa Property. “Most sellers tend to upsize in the area while Londoners come here for the fantastic schooling and excellent transport links. You can get a train straight into London St Pancras in around 25 minutes.”
There are a number of factors that affect the value of properties in the south-east, however, despite Brexit uncertainty, St Albans’ property market continues to thrive whilst London boroughs struggle.
In the last three years, mortgage rates have been historically low for first-time buyers, which is why smaller properties such as terraced housing have seen a rise of over 60% in house sales in the space of just 10 months.
Conducting the right property market research for your development will help sell your properties much faster compared to developments across London.
You can read more about becoming a property developer by reading our extensive property development guide.
Hunter Finance offers fast and flexible finance to property developers all over Essex.
We lend to a wide range of people, including:
60% of the commercial value of the properties on completion plus 100% of the build costs. You can borrow between £100,000 and £2.5m.
If you would like to find out more about our property loans for your project, please call 01825 749721.