The places where house prices just keep on rising
Buying a property is the most expensive purchase that most people will ever make. For most homeowners, however, it’s been well worth it. Over the last few decades, property buyers have seen an excellent return on investment, with the price of an average home increasing by a staggering 207% in the two decades to 2020.
More recently, however, rising interest rates have had a knock-on impact on mortgage affordability. In turn, demand has fallen as people wait for the situation to improve – and house prices are now falling across the UK for the first time in many years.
In our Private Wealth Guide, we have shown time and again that our home counties of Hertfordshire and Essex are great locations to invest in property. And in this blog, we’ll do it again as we unveil the locations that are bucking the trend and continuing to deliver great returns for homeowners.
Herts property investment hotspots
The AL9 postcode has seen a staggering 16.87% increase in house prices in the year to September 2023, according to research from Herts Livebased on Land Registry data. AL9 is home to the wealthy village of Brookmans Park, located just south of Hatfield, where homes can sell for in excess of £3 million. Brookmans Park is also home to Queenswood School, a girls-only independent day and boarding school where fees range between £8,120 and £13,950 per term.
The SG3 postcode, which covers the villages of Knebworth, Datchworth and Woolmer Green, has also seen significant house price increases in the same period, with growth of 11.26%. At the time of writing, Hoppers Barn, a five-bed 17th century barn conversion in Datchworth – complete with an outdoor heated swimming pool, detached annex and a private gym – was on sale for £1.6 million. The postcode is also home to Knebworth House, a gorgeous stately home which, as well as being a tourist hotspot, is also a famous filming location and concert venue that has featured in numerous acclaimed films including The Kings Speech, Nanny McPhee and Victoria and Abdul.
Another area which saw impressive house price growth was the EN11 postcode, covering the small town of Hoddesdon. With house prices rising by 8.51% in the year to September 2023, it’s unsurprising that Hoddesdon has a broad selection of £1 million+ properties to choose from, ranging between older character properties and bang up-to-date new builds.
Other postcodes that have seen growth in the past year include AL8 (+4.01%), WD25 (+2.96%) and SG13 (+1.99%).
Essex property investment hotspots
Over in Essex, the CM13 postcode – covering southern side of the upmarket town of Brentwood – enjoyed a 14.79% increase in house prices between September 2022 and September 2023. With a beautiful six-bed, six-bathroom home on the market in Ridgeway, Brentwood at the time of writing this blog for £5.5 million, it’s easy to see why wealthy prospective buyers are flocking to Brentwood, keeping the market buoyant and house prices rising. The CM13 area is also home to the beautiful Thorndon Country Park and Thorndon Country Park South, spread over acres of unspoilt countryside and boasting views as far away as London’s Canary Wharf.
The CO9 postcode, which covers the attractive market town of Halstead in addition to innumerable pretty countryside villages, saw house price growth of 11.51% during the same period. Gosfield School, an independent co-educational school which educates children from nursery age all the way up to sixth form, is located here. Properties on sale here include Grade II listed country homes manors, historic estates set in acres of grounds and charming barn conversions complete with detached, self-contained annexes.
The CM11 area of Billericay just missed out on double-digit growth in the year to September 2023, with houses here nevertheless achieving a respectable increase of 9.77% on average. Homes in sought-after streets here, including Norsey Road in Billericay, and Glebe Road in the village of Ramsden Bellhouse, are on sale for multiple millions of pounds.
Other areas that enjoyed growth include: CM4 (+8.20%), IG10 (+5.34%) and CM12 (+2.43%).
More to come in our Private Wealth Guide series
We’ll be publishing more blogs in the coming months building on the topics explored in our latest Private Wealth Guide to Hertfordshire and Essex. If you enjoyed this one, keep an eye out on our blog or follow us on social media using the hashtag #PrivateWealthGuide.
