The Harlow property market has recorded an exponential level of growth over the last year or so. Average property prices have risen by over 4%, with the increase totalling £13,100. The average price of a property in Harlow now stands at £339,000, with steady growth helping to reflect the confidence that people have in the local market. Source: Pexels

What is Driving the Rise in Harlow Property Prices?

Several factors could well be contributing to the rise in Harlow property prices. One major influence would be the fact that Harlow is well-connected to neighbouring areas. It has direct rail links and strategic access to the M11. Harlow is also very attractive to those who want more space and more for their money, especially when compared to London postcodes.

With the local Harlow and Gilston Garden Town project currently ongoing, this is going to add a lot to the town infrastructure, with a main focus on public amenities. This has helped to spark interest in the area. As Harlow cements itself as a hub for innovation and consistent growth, this is also driving new employment opportunities. Over time, Harlow is becoming more family-friendly as well, which is helping to broaden its appeal to homebuyers who want to settle down, and who are seeking a place to plant some roots. As time goes on, we are also seeing more internet searches for terms like value my house. People in the area are looking to capitalise on the recent developments, and with many sites now offering instant valuations, property sales are moving faster than ever. With Harlow properties worth on average 4% more than they were last year, it wouldn’t be surprising to see a spike in the number of people selling their homes, which again furthers economic growth and provides new opportunities to residents in the area. Source: Pexels

One Price Band Accounted for 40% of Sales

Houses within the £300,000 – £400,000 price range accounted for over 40% of sales. As a lot of the market activity is happening within this area, it may be that we see the average price increase over time, especially given the fact that family homes are in high demand. Established properties are currently averaging £339,000, but new builds fetch slightly more, averaging £341,000. This indicates that buyers are valuing more modern and energy-efficient builds, but at the same time, it also shows that people are not overlooking the older properties that may be on the market.

Sellers are in a strong position, and it seems that buyers are more motivated than ever. With the area’s amenities improving over the years and current developments showing a lot of long-term growth potential, it’s going to be interesting to see where we go from here, and what an impact this has on neighbouring areas. As a general rule, when one area sees an increase in property prices, this creates a domino effect across other cities, which can create interesting opportunities for those who want to invest in the area or those who plan on moving to it with their family.