Latest prices in Hertsmere for Semi-Detached properties
The latest figures show that the average price for a Semi-Detached property in Hertsmere has now reached £584,363 as of Jul 2024. This value is based upon the average value of completed property transactions in the month of July.
Average prices for a Semi-Detached property have increased substantially over the longer term in Hertsmere. Back in January 1995, prices for this type of property averaged £84,014 based on sales at the time. Fast forward to January 2024, and averages reached £597,729 - representing a growth of 611% over 29 years.
This substantial triple-digit percentage rise in Semi-Detached property values far outpaced broader inflation over the same period. Rising household incomes, strong local economy, high demand and constrained supply all likely contributed to the steep price inflation seen for Semi-Detached homes in Hertsmere over the past 3 decades.
Our data is sourced directly from HM Land Registry and their UK House Price Index report. This dataset is updated several times a year and we always attempt to have the most up to data information available.
The UK HPI uses sales data collected on residential housing transactions, whether for cash or with a mortgage. Properties have been included in England and Wales since January 1995, in Scotland since January 2004, and in Northern Ireland since January 2005, Data is available at a national and regional level, as well as counties, local authorities and London boroughs.
Semi-Detached prices in Hertsmere over the last 12 months
Date
Price
Aug 2023
£609,015
Sep 2023
£615,256
Oct 2023
£604,932
Nov 2023
£616,137
Dec 2023
£592,649
Jan 2024
£597,729
Feb 2024
£577,162
Mar 2024
£573,403
Apr 2024
£569,179
May 2024
£577,561
Jun 2024
£584,446
Jul 2024
£584,363
Recent trends for prices in Hertsmere
The latest figures from July 2024 indicate the property market in Hertsmere continues to show rising price trends. Compared to June, 2024, average prices increased by 0.1% to £489,097. On an annual basis, average property prices have decreased -2.6% since 12 months ago.
In terms of sales activity, there were 41 residential property transactions completed in Hertsmere during July, 2024. Of these purchases, 22 were financed with a mortgage while 8 were all-cash sales. For cash buyers, average prices have changed by 0.2% since June, 2024, coming in at around £468,152. For properties purchased with a mortgage, the average price changed by 0.1% since June, 2024, to £497,573.
Compared to the overall picture in its national parent England, the average property price in Hertsmere are higher than the current national average of £305,879. While Hertsmere saw a change of 0.1% over the last month, England as a whole recorded a percentage change of 0.2% in average property values. And on an annual basis, prices across England have grown by 1.6%, more than the -2.6% yearly change seen in Hertsmere.
Interested in purchasing a property in Hertsmere? Use our Monthly Mortgage Cost Calculator to see how much a property may cost you per month. This tool is for illustrative purposes only and does not constitute financial advice.
Average price in Hertsmere by housing type
Prices last recorded in July, 2024
average
£489,097
detached
£1,048,123
flat
£302,371
semi-detached
£584,363
terraced
£446,477
Prices by housing type in Hertsmere
Recent data shows that price growth has varied across different property types in Hertsmere over the last year. For terraced houses, property prices changed by 0.2% between July 2024 and June 2024 to reach £446,477, and changed by -1.8% over the last 12 months. The annual change was greater than the 1.8% change seen for terraced homes in England overall.
Meanwhile, semi-detached properties saw a fall in average prices locally, taking them to £584,363 in June 2024. This represents a 0% change from the same month last year.This is underperforming the 2.2% annual change in semi-detached values across the country.
Detached homes in Hertsmere gained 0.3% month-over-month to reach an average of £1,048,123. Annually, detached property values have changed by -3.5%. This is weaker price growth compared to England's 1.6% change for detached houses over the year.
For apartments and flats, average prices decreased by 0% between July and June 2024, hitting £302,371. Over the last 12 months, apartment values have changed by -3.6%, lagging England's flat and apartment growth rate of 0.4%.
Overall, semi-detached properties have seen the strongest price momentum locally over the past year, with a change of -1.7%, while flat properties lagged, with a change of -3.6%.
Recent purchases in Hertsmere
According to data from HM Land Registry, there were 41 completed property purchases in the area of Hertsmere in July 2024. Of these sales, 8 were recorded as cash purchases whilst 22 were purchased using a mortgage. Compared to this time 12 months ago, the percentage of properties purchased using a mortgage has changed by -2.6% and the percentage of properties purchased with cash has changed by -2.8%.
The number of cash and mortgage purchases may not match the recorded number due to exclusions listed on the gov.uk website
Looking for a specific property type?
Use one of the following links to find more specific information about the type of property you're looking for in hertsmere.
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