If you’re a regular reader then you may have guessed by now that I’m passionate about my local area. I like to know what’s going on and where so I can pass this information onto my landlords/investors so they can make better informed decisions. One of the things I get asked about most; “Will house prices in Watford continue to increase?”
As I always say, nobody has a crystal ball so we can’t predict for certain where house prices are going to go. What I do know is there will always be a strong rental demand in Watford and with all of the new developments that are coming our way I believe there will be stronger demand for owner occupiers as well as tenants.
For example, are you familiar with the Croxley Rail link? I’ve spoken about this before and
regularly discuss the pros and cons of the new train line and whether it is likely to have a localised uplift in prices – especially where the new stations will be developed at Ascot Road and Vicarage Road.
This often leads onto the ‘controversial’ Watford Health Campus development which will be close to the new Vicarage Road station. 700+ homes will be built behind the hospital which will be a mixture of flats and houses with an agreed percentage of affordable housing. I say controversial as the planners want to build on top of the local resident’s allotments that have put up a tremendous effort to stop this development recently winning in the High Court. That said I can’t see the developers backing down so we’ll have to watch this space.
Watford Junction is set of a complete redevelopment which will be very much needed if it is to cope with the additional capacity when commuters from the met-line start using the station too. This is absolutely key for those of you looking at the young profession market living within a 10 minute walk of the station.
Cassiobury Park – some say the jewell in Watford’s crown – has received significant lottery funding so is set for improvement. How will this affect house prices? Possibly not directly but if the council is making the town a more desirable place to live then there will be a knock on effect.
Intu’s Charter place redevelopment is next in the list of improvements to the town. This is a £100million development project changing the face of the upper end of the shopping centre and by bringing in a Cineworld and leisure centre there will be much needed improvement to the tired looking space. Again the town will become more popular as a result of this making it more desirable.
In addition to the above there are a plethora of good reasons to live/buy/invest in Watford already.
If you’re a portfolio landlord with 20 properties or just dipping your toe into the buy-to-let water I’d love to talk to you about the local area, the various developments and what might be the next step for you on the property ladder.
You can reach me on 01923 375 300.
For more about us go to: Caley & Co