The newspapers are regularly filled with stories about how property prices are rocketing upwards, when will the next crash happen, how first time buyers are being priced out of the market. We love to read these stories
because after our favourite topic of conversation, the weather, comes the property market.
That said we can talk about it generally as the UK is made up of many areas and each of them are experiencing very different situations. As you might expect, London has experienced a significant increase in the last year with prices going up on average 19%. Some boroughs have risen as much as 26%. By contrast though Wales as a whole has only experienced an average increase of 2% with certain areas dropping 10% or more.
So what’s going on in Watford at the moment? Well it would appear there is still a lot of activity although not the same growth figures that we were experiencing during 2014 with Zoopla even showing a slight drop in prices of the last few months. But as most people who are 0selling are also buying, if you need to take slightly less for your property then there’s a good chance you’ll be paying slightly less for the one you are buying! This is good news of course for anyone moving up the ladder. It can also be good news for investors as you could find yourself picking up slightly better deals!
Property investment in Watford should not just be about price though which is why I like to keep my ear to the ground and look at other aspects for example, which price band is selling fastest?  I had a look at the figures for the last couple of months and found the following.
The £0-£250k price bracket had 166 new properties put onto the market in the last 60 days and only 80 of these are still available indicating just of 50% have sold stc! In the £250k-£400k bracket 306 have hit the market and only 131 are still available meaning 57% have buyers!  The higher end of the market priced at £400k+ saw 164 new properties up for sale with only 109 still available so even in this price band 33% of properties have sold.

It’s clear from the numbers above that the most popular price bracket is £250k-£400k and perhaps this has something to do with the stamp duty reform making it easier to buy those £250k+ properties and with politics in mind and an election looming there is little chance of significant movement in prices before then.
Regardless of our thoughts on who wins the election and how it might affect the market, Britain is an island, there simply isn’t enough housing and we’ll always need a roof over our head! My thoughts once again are it’s a good time to be in buy to let.
If you’d like to discuss anything to do with Watford’s property market I’d love to talk to you. Yes we do lettings, yes we do property management but we LOVE the property market so give me a call on 01923 375 300 and let’s talk!