House prices in the Watford area are defying the regional slowdown, with the average price jumping by a healthy 3.3% in June.

This means the average Watford property is now worth £393,023, up from £387,277 in May. That’s £5,746 added to the value of your home in just one month!

Local Growth Outpaces the East of England

While other areas in the East of England saw much smaller increases (just 0.1% on average), Watford’s property market is showing real signs of strength. In fact, Watford’s growth even beat the UK average increase of 0.5% for June.

Long-Term Outlook Remains Steady

Despite this positive monthly jump, it’s worth noting that Watford house prices are still slightly down compared to this time last year (1.1% lower). However, the recent rise suggests that the market is bouncing back, offering encouragement for both buyers and sellers.

What Does This Mean for You?

• Sellers: Now could be an excellent time to consider putting your property on the market while demand is increasing.
• Buyers: Although prices are on the rise, Watford still offers more affordable options compared to pricier areas like St Albans.

Key Figures for Watford:

• Average house price (June 2023): £393,023
• Monthly change (May – June 2023): +3.3%
• Annual change (June 2022 – June 2023): -1.1%
• Average first-time buyer price: £349,500

How Does Watford Compare?

Here’s how Watford stacks up against other areas:

• East of England average house price: £339,440 (Watford is 15.8% higher)
• UK average house price: £287,924 (Watford is significantly higher)
• Most expensive area in the East of England: St Albans (£576,000)
• Least expensive area in the East of England: Great Yarmouth (£212,000)