Welwyn Garden City tops New Town price-increase table

PUBLISHED: 15:22 26 January 2017 | UPDATED: 16:31 26 January 2017

Welwyn Garden City has experienced rapid price growth.

Welwyn Garden City has experienced rapid price growth.

Archant

House prices in Welwyn Garden City have risen faster over the last decade than in any other New Town in Britain, a new survey has found

According to research by Halifax, the price of an average home in Welwyn Garden City rose 67 per cent between 2006 and 2016, to £362,656.

Over 30 years, Welwyn Garden City lies eighth in the long-term table, with a price rise of 508 per cent.

According to the survey, homes with Hatfield postcodes are pricier than in Welwyn Garden City, at £370,960, but they have not risen as fast.

Hatfield has enjoyed the eighth largest increase over a decade, 38 per cent, and sits at Number 12 in the long-term table with 445 per cent growth.

Stevenage homes are much cheaper at £297,238 on average, but it has experienced the second fastest increase in a decade (58 per cent), and the 12th fastest over 30 years (468 per cent).

Communities established under various New Town Acts were built in three waves between the late 1940s and 1970 to ease housing shortages.

Although a few such as Milton Keynes were completely new, others, including Hatfield, expanded well-established settlements.

Although Welwyn Garden City was built in the early 1920s, it was reclassified as a New Town in 1948.

The survey found that New Town homes in general have appreciated 32 percent in a decade, compared to the national average of 26 per cent, but have lagged behind on a 30-year comparison.

Welwyn Garden City county and borough councillor Malcolm Cowan said: “House prices are jolly nice for people who own houses; they are not so clever for the rest.

“This reflects how the centre of gravity of Britain has reflected even more to the South-East, where there is a great demand for houses.

“We need an effective plan to build houses across the whole of the South-East, which some councils are resisting.”

Tony Mitchell, manager of Haart estate agency in Stonehills, Welwyn Garden City, said: “ I wasn’t here in 2006, but house prices have risen at least ten per cent in the last two years.

“The market is very good, with most of the demand coming from London.

“Brexit hasn’t slown anything down, in my opinion. People are still buying.”

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