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St. Albans / Hatfield / Welwyn Gc


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  • 4 weeks later...
My sister lives in St Albans and wants to move to a bigger house in the same nice area.

She says the prices aren't moving.

As someone trying to sell a house in St Albans, I can say they are, because there's a shortage of people with money to buy. Not as much as many places but see here. However, roll back a few years and it doesn't look so bad. Quite a few asking prices are staying put, I guess as some sellers are prepared to wait it out.

Pete

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I've only just realised that St Albans is featured in the Nationwide quarterly reports. The data only go back to 2005 Q4, shown below:

Quarter   Price  % Peak  £ Peak2005 Q4  289157				2006 Q1  298049				2006 Q2  299513				2006 Q3  299879				2006 Q4  304872				2007 Q1  326048				2007 Q2  337297				2007 Q3  339292				2007 Q4  347563				2008 Q1  346679	-0.3	-8842008 Q2  336111	-3.3  -114522008 Q3  306820   -11.7  -407432008 Q4  294714   -15.2  -52849

I was slightly surprised to see a broad consistency with the Nationwide national figure as the Land Registry numbers for Hertfordshire appear to be lagging the national LR data by a few months.

However, if St Albans can be assumed as a proxy for Hertfordshire, this might be explained by the lag in the LR data, combined with the apparent acceleration in the decline in St Albans in 2008 Q3 (a Lehman Bros effect???), which won't feature much in the LR data yet.

Looks like St Albans might not be different after all....

;)

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I've been tracking the St Albans market by using Rightmove to indicate the best place I could get for £250k within 1 mile (ok - a Rightmove mile) from the Thameslink with some estimate on my part of the discount I would expect to negotiate over asking price. There has been a huge improvement over the last 6 months, with passable houses coming within range as opposed to ordinary looking 2 bed flats a year or so ago.

From talking with an EA in the pub St Albans appears to be far worse hit relative to the rest of the country than I would have expected. Does anyone know anyone trying to sell at the moment to logic check this?

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I've been tracking the St Albans market by using Rightmove to indicate the best place I could get for £250k within 1 mile (ok - a Rightmove mile) from the Thameslink with some estimate on my part of the discount I would expect to negotiate over asking price. There has been a huge improvement over the last 6 months, with passable houses coming within range as opposed to ordinary looking 2 bed flats a year or so ago.

From talking with an EA in the pub St Albans appears to be far worse hit relative to the rest of the country than I would have expected. Does anyone know anyone trying to sell at the moment to logic check this?

I know that this has had 60+ viewings - vendor doesn't know why it's not selling. Presumably its overpriced in the current market.

RW

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I know that this has had 60+ viewings - vendor doesn't know why it's not selling. Presumably its overpriced in the current market.

Maybe buying one of those old cottages south of the city centre is a bit like buying a BMW:

- they're lovely to look at.

- you'll want to show it off to all of your friends.

- you'll laugh at your colleagues in their soulless modern semis.

but then you get a kid and:

- you realise that they're way too small.

- expensive to run (what's the heating bill like in these old place - conservation-area rules mean you have to keep the old draughty single-pane windows).

- inconvenient (e.g. nowhere to park a car)

Could simply be that they are a "flashy" purchase! ;)

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Maybe buying one of those old cottages south of the city centre is a bit like buying a BMW:

- they're lovely to look at.

- you'll want to show it off to all of your friends.

- you'll laugh at your colleagues in their soulless modern semis.

but then you get a kid and:

- you realise that they're way too small.

- expensive to run (what's the heating bill like in these old place - conservation-area rules mean you have to keep the old draughty single-pane windows).

- inconvenient (e.g. nowhere to park a car)

Could simply be that they are a "flashy" purchase! ;)

Agreed, nice looking place but totally impractical place to live if you own a car, or have kids.

Its a terrible rat run and has speed bumps like small mountains the whole length of the road.

Would never give £250k to live there !!

Edited by FaTB
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Agreed, nice looking place but totally impractical place to live if you own a car, or have kids.

Its a terrible rat run and has speed bumps like small mountains the whole length of the road.

Would never give £250k to live there !!

How about 400k for Alma Road, close to the best curry house on the planet (no, not the New Gulshan.....). A 23% (£115k) drop in 8 months - £40k slashed today.......it sold for £250k in 2000.

BTW, any thoughts on the Nationwide numbers I posted?

RW

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How about 400k for Alma Road, close to the best curry house on the planet (no, not the New Gulshan.....). A 23% (£115k) drop in 8 months - £40k slashed today.......it sold for £250k in 2000.

RW

In this market, is £300k "in the region of" £400k? If so, we seem to be getting close to reasonable value.

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Has it exchanged? (Proven?) At what price?

Very belated reply, FP, but yes, it all went through, done and dusted at £300K.

Phews and hallelujahs all round. P of Attorney holders now agonizing over where best to put her dosh.

(This was re my aunt's 4 bed in Welwyn (not WGC), OP Dec 07 £425K.)

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Very belated reply, FP, but yes, it all went through, done and dusted at £300K.

Phews and hallelujahs all round. P of Attorney holders now agonizing over where best to put her dosh.

(This was re my aunt's 4 bed in Welwyn (not WGC), OP Dec 07 £425K.)

So roughly 30% off the peak price. Pity that it didn't sell earlier but pricing is very much in line with all of the anecdotal evidence that we hear about where houses are actually transacting now ......

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I rent on Alma Road having STR'd in 2007. It's a bit like living on the M25 at times , not sure even 200K would tempt on that house.

The Old London Road property is the classic place bought in a bull market where buyers overlook the obvious drawbacks, speed humps,parking rat run,tiny etc etc

the

In the price range I've been monitoring 500-750K, a bunch of properties that had been on the market for a long time went STC in Nov/Dec. Waiting for the LR figures to see if there was any seller reduction or just the last fools of the Credit bubble jumping into the vortex.

StA will be slower to crash than other areas due to the 'pent up demand' of catchment area purchasers but it'll not be immune despite the denials of the coffee morning mums.

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StA will be slower to crash than other areas due to the 'pent up demand' of catchment area purchasers.....

Welcome SirTrevor!

This is the conventional/sheeple wisdom of locals in my experience too, but have you seen the Nationwide figures that I posted here?

Granted, they're probably from a low sample, but they are showing falls that are broadly in-line with the national figures.

On the other hand, the Land Registry data suggest that falls in Herts as a whole are lagging behind the rest of the country by a few months. But these data only extend to the end of November.

We shall see...

RW

Edited by RandomWalk
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.....but it'll not be immune despite the denials of the coffee morning mums.

Speaking of coffee, maybe they're starting to smell it over in Chiswell Green - from Property Bee:

14 January 2009

* Price changed: from '£445,000' to '£395,000' - -£50k

27 July 2008

* Price changed: from 'Offers in Region of £450,000' to '£445,000' - -£5k

10 June 2008

* Price changed: from 'Offers in Region of £465,000' to 'Offers in Region of £450,000' - -£15k

14 April 2008

* Initial entry found.

Still way over-priced though, for a 2-bed bungalow. Can't believe it came to the market at £465k :blink:.

RW

Edited by RandomWalk
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Green shoots of panic spotted in prime central St Albans. Road too busy but great location.

Bought in March 2007 for £650k, now down to offers @ £585k.

With the bloodbath in the city (4 people I know went this week) I'm starting to think that StA might actually drop more than the average. StA market is as correlated to the city's fortunes as Fulham/Chelsea.

http://media.rightmove.co.uk/3k/2313/2313_...DOC_00_0004.PDF

http://www.houseprices.co.uk/e.php?q=8+Lem...rdshire+AL1+3PB

17 January 2009

* Price changed: from 'Offers in Region of £650,000' to 'Offers in Region of £585,000'

06 December 2008

* Subtitle changed: from '4 bedroom detached' to '4 bedroom detached house '

01 November 2008

* Price changed: from '£675,000' to 'Offers in Region of £650,000'

08 October 2008

* Initial entry found.

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Green shoots of panic spotted in prime central St Albans. Road too busy but great location.

Good for train spotters, backing onto the mainline......

I used to rent in St George's Court on the corner of Lemsford and Hatfield Roads. As you say, good location, but the traffic and railway noise took some getting used to.

RW

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Does anyone have some up-to-date info on Harpenden prices? Is any sense of reality creeping in to sellers expectations?

As someone potentially interested in moving there (from abroad), do you have any candid views on its pros and cons as a place to live? The prices are somewhat absurd, but to what extent does it merit them?

thanks

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Does anyone have some up-to-date info on Harpenden prices? Is any sense of reality creeping in to sellers expectations?

As someone potentially interested in moving there (from abroad), do you have any candid views on its pros and cons as a place to live? The prices are somewhat absurd, but to what extent does it merit them?

thanks

East of you - was talking to a local agent re a neighbour. Price has been cut 15%, agent indicated be lucky now to get 80% of the cut price, so that's 35% off - mind you vendor won't take down. I guess that's the reality, denail by the bucket load.

Lived near H/St A for years. Overrated. Overdeveloped. Prices are built on the speed and frequency of the train. IF you don't need that give it a miss, much of Herts is nicer and better value.

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WTF? Increased by £15k. :blink:

24 January 2009

* Price changed: from '£375,000' to '£389,950'

20 December 2008

* Price changed: from '£389,950' to '£375,000'

03 November 2008

* Initial entry found.

Maybe they don't want to sell for a **loss** when those cheeky ( :P ) offers come in.....

Price history:

15/12/2005 £365,000 Ter. F No Map 34, Harlesden Road, St Albans, Hertfordshire, AL1 4LF

21/05/2004 £281,700 Ter. F No Map 34, Harlesden Road, St Albans, Hertfordshire, AL1 4LF

RW

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  • 2 weeks later...

A £5k reduction. After a previous drop a few weeks ago of £50k, is an extra £5k actually going to make a difference :blink:. Maybe they meant to drop it by another £50k - still overpriced even then.

Last sold for £325k in Feb06.

03 February 2009

* Price changed: from '£395,000' to '£389,000'

14 January 2009

* Price changed: from '£445,000' to '£395,000'

27 July 2008

* Price changed: from 'Offers in Region of £450,000' to '£445,000'

10 June 2008

* Price changed: from 'Offers in Region of £465,000' to 'Offers in Region of £450,000'

14 April 2008

* Initial entry found.

RW

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£265,000 - 30% drop since Aug 07 in Welwyn Garden City hertsHi Everyone,

Bought a house in Welwyn garden city panshanger area in 2005 for £247,000 sold on Aug 2007 for £292,000, now renting in WGC town area much nicer, moved mainly because of the crash coming and prices in no way could keep going up!.

Also the area is has gone down hill loads of Polish, migrant workers, one in the same road built his own double storey extension nicknamed polish Pete’s pikey palace, worked all ours round the clock drilling, banging etc took over 9 months to complete.

Had polish people living in his back garden in a porta cabin complete nightmare!, it has to be seen to be believed also he is a architect!!.

:lol:

Police got called out as the neighbours had enough, he also broke there fence and there brickwork to there house when he done his quality building work, and the local residents are not happy as well complete joke avoid at all costs.

Looking to move to Tewin/Tewin wood etc somewhere like that, maybe another 6 months or more, same property we sold on right move now for £265,000 AL7 3 bedrooms link here:

£265,000 - 30% drop since Aug 07 in Welwyn Garden City herts

So for me 30% has already happend and I would say a further drop is on the way, they were already 30% overpriced.

all the best.

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