The well-known Watford town in Hertfordshire was named “the happiest location to live in the East of England” by the Office for National Statistics. It really does seem to have everything: a fantastic shopping experience, history, sports, a flourishing entertainment and music scene, character and inventiveness, and several top-notch educational institutions. Investors are looking for Estate Agents in Watford to purchase properties in demand and those within walking distance of Watford junction, Watford High Street, Croxley, and Rickmansworth stations.
People who commute to London and other southeast cities frequently choose to live in Watford. The shortest trip into Euston takes 20 minutes, making the commute from Watford to London faster than from many locations within the city. Watford also attracts businesses looking for a location in the London region but outside the city proper. In today’s blog, we will discuss the benefits of investing in the Watford property market.
Investment in Watford Property Market:
Approximately 45% of people shifting to Watford, according to the Dataloft survey, are from London. The price increase in Watford is expected to be 17% between 2021 and 2025, compared to 12.6% for all of London. Between March 2020 and March 2021, prices increased by 6.6% annually, outpacing Hertfordshire’s 6.4% and outer London’s 6.1%.
The rental market in Watford is vibrant, with two-thirds of tenants being either single or couples between the ages of 20 and 39. According to research conducted by the Imagine Group, the designated selling agents for London Square Watford, a one-bedroom apartment would bring in around £1,200 per month in rent, and a two-bedroom apartment would attract about £1,550 per month in rent, with returns of up to 4.5%.
Why Invest in Watford?
Most Watford residents are former Londoners who moved there for a better quality of life and easier transport. Due to the area’s comparatively low real estate costs, the price was another draw for them. According to the most recent statistics from the government department, Watford’s average house price in May 2022 was £395,199. This increased by more than 2.1% from the £387,035 in April. It has increased by 7.8% during the past year. The average home in Watford is £108,000 less than one in London, and the credit for this goes to the beneficial First-time buyers (FTB)Scheme provided by the UK government.
Transport:
There are many ways to get around Watford, thanks to some of the most significant transportation links in the nation. The M1 and M25 London Orbital highways are near Watford. Watford has stations on the London Overground and Metropolitan lines of the London Underground, as well as Watford Junction and Watford High Street. Watford Junction, Watford North, and Garston have national rail connections that go to London Euston and other locations, including St. Albans and Milton Keynes.
Education:
Parents may choose from various excellent public and private schools in Watford. Most have received “excellent” or “good” ratings from Ofsted. Outstanding primary schools for children aged 3 to 11 include Holy Rood Catholic Primary School and Alban Wood Primary School and Nursery, all of which have received “outstanding” ratings from Ofsted. Nascot Wood and Cassiobury Junior, serving boys and girls between the ages of 7 and 11, are two of the most outstanding junior schools in the region. The Purcell School for Young Musicians, a highly regarded residential and day school, is the oldest music school in Britain. West Herts College collaborates closely with the Watford business sector while offering a superb selection of higher and further education courses. Of course, you can also easily access all of London’s top institutions and universities.
Leisure and Entertainment:
With the Intu Watford retail center, Watford is a significant regional shopping hub. The Watford Colosseum and the Watford Palace Theatre are only a few of the well-known cultural attractions in the area. The Watford town center has recently seen significant rehabilitation and development. More are planned to increase the area’s appeal as a place to work and shop and draw in more new residents. The Town Hall and surrounding area are included in the Watford High Street (North) and Cultural Hub master plan’s goal to revitalise that section of the town center. The main objective of the 20-year plan is to turn this area of the town center of Watford into a thriving, prosperous mixed-use cultural hub.
Final Thoughts :
As real estate prices heavily depend on transport links, Watford with its excellent transport links, makes it a great choice for property investment. Despite not being a true metropolis, Watford town center boasts a bustling urban lifestyle. With demand from buyers who want to be close to the shopping, nightlife, and other facilities, particularly the Watford High Street and Watford Junction stations for a quick commute into London, property here provides a great buy-to-let opportunity.
