Hot off the press Zoopla’s stats are out and have just come into my inbox. These figures include house price movement in the last 3, 6 & 12 months periods which is a handy way to gauge what’s going on in the Watford property market right now. Zoopla is great for stats and actually show’s much more than the above but they are the headline figures so let’s have a look at what they are….
Here are the stats for house price movement in the last 3 months:
WD17 down -0.05%
WD18 down -0.04%
WD19 down -0.05%
WD23 down -0.3%
WD24 down -0.24%
WD25 down -0.19%
WD3 down -0.14%
Before you all get on the phone to your agents to cancel the offers/sales that you are rushing through to beat the stamp duty deadline it’s worth also looking at a slightly longer term trend. Over the last 12 months the above Watford postcodes have shown an average house price increase of between 6.67-8.4% except for WD23 which has only increased 4.61%. Which one has increased the most?  WD19.  These figures are of course different o my recent post “I wish I had bought in WD17 last year” Click here to read showing that WD17 had outperformed the other postcode so you can see how these figures can fluctuate!
Property Prices in WD19
Although the previous 3 months don’t look good there are plenty of factors that will influence this including the Christmas break. I believe that when this report comes out again it will show very different figures over the last 3 months.  Right now properties are commanding a premium while investors rush to get in before the stamp duty deadline.
How will it look after April?  Who knows?! I’ve spoken to investors looking to buy post April as they think prices will level off again and I’ve also spoken to people who are literally busting a gut to get completed before the deadline and happy to pay an increased price.
What other data can you scrape from Zoopla about the Watford property market that could be useful for you in your decision making process? Well quite simply there is so much on there I couldn’t possibly mention it all. One of the things I find interesting is looking at both ends of the market.  In WD19 (our hotspot this month) the most expensive house bought was on Nancy Downs and sold for a cool £1.7million in October 2015. At the other end of the Spectrum a leasehold house on The Parade, Delta Gain sold for just £45,000 in Dec ’14 – less than half the price it sold for in 2002 (£104,950).  Not sure how that was so cheap but someone obviously got themselves a cracking deal!
I hope the above has been useful.  If you’d like to discuss specific areas, streets or types of houses in the Watford area then please feel free to get in touch.