The latest figures show that the average price for a Flat & Apartment property in Watford has now reached £281,044 as of Feb 2024. This value is based upon the average value of completed property transactions in the month of February.
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 £283,446 - representing a growth of 430% 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
Apr 2023
£282,676
May 2023
£277,271
Jun 2023
£271,488
Jul 2023
£269,148
Aug 2023
£269,998
Sep 2023
£268,534
Oct 2023
£272,806
Nov 2023
£282,624
Dec 2023
£283,354
Jan 2024
£283,446
Jan 2024
£283,446
Feb 2024
£281,044
Recent trends for prices in Watford
The latest figures from February 2024 indicate the property market in Watford continues to show falling price trends. Compared to January, 2024, average prices decreased by -1.1% to £390,019. On an annual basis, average property prices have decreased -5.4% since 12 months ago.
In terms of sales activity, there were 41 residential property transactions completed in Watford during February, 2024. Of these purchases, 26 were financed with a mortgage while 4 were all-cash sales. For cash buyers, average prices have changed by -1.2% since January, 2024, coming in at around £377,034. For properties purchased with a mortgage, the average price changed by -1.1% since January, 2024, to £392,464.
Compared to the overall picture in its national parent England, the average property price in Watford are higher than the current national average of £297,735. While Watford saw a change of -1.1% over the last month, England as a whole recorded a percentage change of 0.6% in average property values. And on an annual basis, prices across England have contracted by -1.1%, more than the -5.4% 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 February, 2024
average
£390,019
detached
£916,673
flat
£281,044
semi-detached
£524,839
terraced
£414,134
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 -1.2% between February 2024 and January 2024 to reach £414,134, and changed by -6.2% over the last 12 months. The annual change was greater than the -1.7% change seen for terraced homes in England overall.
Meanwhile, semi-detached properties saw a fall in average prices locally, taking them to £524,839 in January 2024. This represents a -1.4% change from the same month last year.This is underperforming the 0.2% annual change in semi-detached values across the country.
Detached homes in Watford lost -2% month-over-month to reach an average of £916,673. Annually, detached property values have changed by -6.5%. This is weaker price growth compared to England's -0.5% change for detached houses over the year.
For apartments and flats, average prices decreased by -0.8% between February and January 2024, hitting £281,044. Over the last 12 months, apartment values have changed by -4.5%, lagging England's flat and apartment growth rate of -2.8%.
Overall, flat properties have seen the strongest price momentum locally over the past year, with a change of -4.5%, while detached properties lagged, with a change of -6.5%.
Recent purchases in Watford
According to data from HM Land Registry, there were 41 completed property purchases in the area of Watford in February 2024. Of these sales, 4 were recorded as cash purchases whilst 26 were purchased using a mortgage. Compared to this time 12 months ago, the percentage of properties purchased using a mortgage has changed by -5.4% and the percentage of properties purchased with cash has changed by -5.8%.
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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