Welwyn Hatfield house prices rising despite Brexit uncertainty

PUBLISHED: 12:21 28 January 2019

House prices continue to rise in Welwyn Hatfield. Picture: DANNY LOO

House prices continue to rise in Welwyn Hatfield. Picture: DANNY LOO

©2019 Archant

The average house price in Welwyn Hatfield has reached an all-time high, according to new Land Registry figures.

The latest UK House Price Index revealed a slight rise in November 2018 to a record £394,767, contributing to a yearly growth of 2.2 per cent.

This surpassed the previous high of £393,841 last January.

Across England, house prices increased 2.6 per cent in the year to November 2018 to a national average of £247,430.

However, Stuart Carnegie of Carnegie Estate Agents said from what he had seen, prices in the Welwyn Garden City area had dropped.

He knew of a number of sellers accepting offers “quite a bit lower” than asking price.

In Hertsmere, the average price fell slightly from the previous month in November to £456,797, a 3.18 per cent annual drop.

Mr Carnegie said “nervousness” caused by Brexit uncertainty was significantly impacting the market.

“There’s not enough buyers, and people are taking their properties of the market because they can’t sell,” he said.

“With Brexit, people are seeing that the market is going to crash potentially... so people looking to buy a new house are quite nervous.”

Provisional figures for all property types across Welwyn Hatfield showed an increase in average price in November 2018 when compared with the same month in the previous year, except flats and maisonettes.

This was consistent with national trends.

Terraced houses increased the most in Welwyn Hatfield, rising by 3.3 per cent to £349,876.

The average price of detached houses in the borough rose to £825,813, a growth of 3.2 per cent, while semi-detached properties increased 3.1 per cent to £461,085.

These prices were each marginally higher than the previous month’s corresponding figure.

Flats and maisonettes fell marginally (-0.2 per cent) to an average £241,034 in the year to November 2018.

In Hertsmere, the average price fell across all property types both monthly and yearly.

Flats and maisonettes dropped 4.95 per cent to £304,159 compared with 12 months earlier, while the detached house price (£957,240) decreased the least (-1.91 per cent).

If you value what this story gives you, please consider supporting the Welwyn Hatfield Times. Click the link in the orange box above for details.

Become a supporter

This newspaper has been a central part of community life for many years. Our industry faces testing times, which is why we're asking for your support. Every contribution will help us continue to produce local journalism that makes a measurable difference to our community.

Latest from the Welwyn Hatfield Times