The Escalating London house prices are causing a ripple effect by driving up prices in the commuter belt within especially within an hour of the City.
London has enjoyed a steady rise in prices in the last year compared to the rest of the country. This is no surprise now that the areas just outside M25 are suffering the consequences because of an exodus of people buying into these areas. One area that is now costing a lot is
St Albans now costing an average of £352 00 and is within a cool 24 mins of the City. It is becoming more and more popular especially with young families. A shortage of housing for sale combined with strong demand from buyers, especially those enjoying big City bonuses, pushed up prices by more in London than in other regions of the
UK. Demand in
London’s surrounding is being driven by the need for family housing. Higher interest rates and affordability pressures were starting to dampen growth across much of the country, but prices are still going up in
London, where demand outstripped supply. The supply position could improve in the run-up to June 2007 when home information packs are introduced. Some households may bring forward their decision to sell before the dreaded HIPS.
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