September 22, 2020
Is Now the Right Time to Invest in Elstree Property?
Elstree is one of Hertfordshire’s most sought-after locations. This friendly village is known for its leafy streets, scenic surrounding countryside and local amenities, and it’s an easy commute into Central London. In short, it’s not difficult to see why it’s so popular with homebuyers.
If you’re thinking of investing in a property in Elstree, now is a great time to do it. Here’s a few reasons why.
Reasons to invest in Elstree property
Property prices are going up.
Market data shows that Elstree’s house prices have risen by nearly 20% in the last five years. That’s an average increase of £123,144 per property. This is largely driven by the area’s popularity, with more people wanting to call Elstree home. As such, it’s a wise idea to invest here sooner, or risk paying even more in the future.
There are some excellent local schools.
It’s no secret that Elstree is in the catchment area for two of the country’s best-performing schools – Haberdashers Aske’s School for Boys and Haberdashers Aske’s School for Girls. These independent schools have a formidable reputation, and if you’d like your child to attend, living in Elstree will raise their chances of being accepted.
Developers are focusing on the area.
If developers are operating in an area, this speaks volumes about how desirable it is. Although Elstree is relatively small, developers have been working on various properties in recent years. These modern homes are usually sought-after, so if you’re interested in purchasing one, it’s worthwhile getting in quick.
It’s got a good array of amenities.
Elstree may be a village, but it has plenty of pubs, restaurants and shops to enjoy. The Waggon and Horses is particularly appreciated by locals, as is Tay Tar Thai restaurant. There are also various other convenience stores, cafes and salons; in fact, everything you could possibly need, right on your doorstep.
The market is active.
Elstree’s property market is very active, given its size. Again, this is a sign of a popular location, and the homes seldom stay available for long. There are a few landlords in the area too, who are cashing in on the village’s desirability and generating a good rental income.
It’s well connected.
The COVID-19 pandemic has inspired many city residents to sell their homes and move to the country instead. Elstree has the added advantage of its own train station (Elstree & Borehamwood), which is a big draw for London buyers. This may push prices upwards in the future, which is another good reason to move here ASAP, rather than a few years down the line.
Reasons to invest right now
One of the biggest reasons to buy sooner rather than later is the stamp duty holiday. This tax break, introduced to stimulate the property market after lockdown, means that homebuyers can save thousands of pounds.
The stamp duty break applies to all properties priced below £500,000. Although some of Elstree’s properties are priced above this, it’s still possible to purchase an apartment, or a one- to two-bedroomed house, for less than that.