The latest figures show that the average price for a Flat & Apartment property in Watford has now reached £287,041 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 Flat & Apartment property have increased substantially over the longer term in Watford. Back in January 1995, prices for this type of property averaged £53,447 based on sales at the time. Fast forward to January 2024, and averages reached £280,742 - representing a growth of 425% over 29 years.
This substantial triple-digit percentage rise in Flat & Apartment 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 Flat & Apartment homes in Watford 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.
Flat & Apartment prices in Watford over the last 12 months
Date
Price
Aug 2023
£269,998
Sep 2023
£268,534
Oct 2023
£272,806
Nov 2023
£282,624
Dec 2023
£283,354
Jan 2024
£280,742
Feb 2024
£278,651
Mar 2024
£278,846
Apr 2024
£276,037
May 2024
£279,975
Jun 2024
£286,596
Jul 2024
£287,041
Recent trends for prices in Watford
The latest figures from July 2024 indicate the property market in Watford continues to show falling price trends. Compared to June, 2024, average prices decreased by -0.1% to £394,261. On an annual basis, average property prices have increased 1.3% since 12 months ago.
In terms of sales activity, there were 53 residential property transactions completed in Watford during July, 2024. Of these purchases, 37 were financed with a mortgage while 7 were all-cash sales. For cash buyers, average prices have changed by 0.1% since June, 2024, coming in at around £384,733. For properties purchased with a mortgage, the average price changed by -0.1% since June, 2024, to £395,843.
Compared to the overall picture in its national parent England, the average property price in Watford are higher than the current national average of £305,879. While Watford 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 1.3% yearly change seen in Watford.
Interested in purchasing a property in Watford? 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 Watford by housing type
Prices last recorded in July, 2024
average
£394,261
detached
£913,141
flat
£287,041
semi-detached
£524,458
terraced
£416,399
Prices by housing type in Watford
Recent data shows that price growth has varied across different property types in Watford over the last year. For terraced houses, property prices changed by -0.2% between July 2024 and June 2024 to reach £416,399, and changed by 0.3% 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 £524,458 in June 2024. This represents a -0.3% 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 Watford lost -0.5% month-over-month to reach an average of £913,141. Annually, detached property values have changed by -1.5%. This is weaker price growth compared to England's 1.6% change for detached houses over the year.
For apartments and flats, average prices increased by 0.2% between July and June 2024, hitting £287,041. Over the last 12 months, apartment values have changed by 2.9%, surpassing England's flat and apartment growth rate of 0.4%.
Overall, flat properties have seen the strongest price momentum locally over the past year, with a change of 2.9%, while detached properties lagged, with a change of -1.5%.
Recent purchases in Watford
According to data from HM Land Registry, there were 53 completed property purchases in the area of Watford in July 2024. Of these sales, 7 were recorded as cash purchases whilst 37 were purchased using a mortgage. Compared to this time 12 months ago, the percentage of properties purchased using a mortgage has changed by 1.2% and the percentage of properties purchased with cash has changed by 1.8%.
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 watford.
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