The value of the St Albans property market has reached a high of £14.973 billion, a staggering rise of 290% in the last 20 years, making it larger than the Gross Domestic Product (GDP) of Iceland (£14.52 billion in 2017).
So those owners and Buy-to-Let landlords that purchased property in the late 1990s have added thousands upon thousands of pounds to the value of their properties. This is even more remarkable given the Financial Crisis of 2008 where UK property values plummeted.
Twenty years ago the St Albans property market was worth £3.833 billion before going on its inexorable rise. Compare this increase of 290% over the same time frame versus the FTSE100’s increase of 40.84% and the UK Retail Price Index increase of 72.2%.
St Albans prices will remain resilient in spite of uncertainties surrounding the market due to the demand for rental property remaining strong with persistent immigration and population growth, low interest rates keeping the cost of borrowing cheap and continuing under-investment in new housing both now and historically.
