About Borehamwood
Borehamwood offers a quiet escape from London, while keeping residents connected to the heart of the capital with strong transport links by road and rail. It’s an area renowned for hosting film and TV productions, with the world famous Elstree studios located nearby and more recently it has become a popular commuter town for people of all age groups. With its diverse range of property styles and acres of countryside to explore, Borehamwood has something for everyone to enjoy.
Why Borehamwood Remains a Property Hot Spot:
The value of properties in an area are influenced by several factors. Fortunate, Borehamwood has many features working in its favour in terms of location. Below, we look at some of the key factors that help make Borehamwood a property hot spot:
- Proximity to Jobs: The closer a property is to a central business district (CBD), the higher the price tag is likely to be. Borehamwood’s proximity to the London job market plays a large part in influencing property prices. However, Borehamwood also benefits from access to jobs outside of the capital. Hertfordshire is home to major employers including Tesco, Ocado and Amazon. Borehamwood therefore benefits from easy access to two thriving jobs markets.
- Transport infrastructure: Borehamwood is in zone 6 so benefits from great public transport infrastructure. Trains from Elstree and Borehamwood station take only 25-30 minutes to arrive in London, making it easy to travel to and from the capital each day. In addition, Borehamwood has great road links, with the M25 and M1 being just 10 minutes away.
- Local regeneration: The introduction of new development schemes in Borehamwood has helped elevate the status of the town in recent years. This has encouraged more businesses to the area, adding to Borehamwood’s thriving high-street. As the image of the local area has improved, it has attracted more interest from buyers keen on moving into the area, making it a prime location for property investment.
- Green open spaces: Hertfordshire is known for its beautiful countryside and there is no shortage of parks and green spaces in Borehamwood. Having a property nearby also means less travel which buyers are willing to pay extra for, while also improving their overall quality of life. Borehamwood is surrounded by countryside, including Elstree Open Space and Aldenham Country Park. This makes it all the more popular for those looking for a bit of country living.
Why Borehamwood properties have performed well
The price of a property is down to several factors relating to the property itself. Fortunately, many Borehamwood properties benefit from having the following features:
- Parking: Being able to park outside of your own home provides ease of access and security that adds to the value of the property. Borehamwood went through a big building boom in the 1940s and 1950s. This means that most properties benefit from having parking, particularly modern apartment blocks. Many period properties have also been tastefully adapted, with permit parking a popular option in the town centre.
- Access to amenities: Properties close by to local amenities are always a more attractive proposition to buyers. Borehamwood benefits from having great community infrastructure. There are five supermarkets in the area, as well as a shopping park and high street. There are several high-performing schools in the area, including Haberdashers and Yavneh. In addition, Borehamwood is home to several highly rated doctors and dentist surgeries.
Borehamwood house prices over the past 10 years
Over the past decade there has been an average property price increase of 34% in Borehamwood, with prices rising from £359,844, to £480,461.
When you compare this to Hertfordshire over the same period, you see that price rises across the county performed well. Average Hertfordshire prices in 2010 were £325,363 and by the end of 2019, this had risen to £467,651, an increase of 44%. This is above the national average.
So what has enabled Borehamwood house prices to rise so sharply over the past ten years? The area has continued to transform its image during that period, which has seen it become an attractive proposition on the property market. Developers have looked to cash in on the town’s excellent transport links, meaning new developments spring up all the time. Popular are the modern apartment blocks marketed at professionals. In addition, the area is home to several large detached dwellings, popular for those looking for more space and a slice of country living. Borehamwood’s ability to cater to various sectors of the market have helped it Borehamwood house prices remain buoyant.
Elstree studios has been established in Borehamwood for over 100 years, while Sky will open a 32-acre film and TV studio in 2022, introducing 2,000 new jobs. Borehamwood has continued to grow as a major centre of employment in its own right in this time. Over the past ten years, the likes of mobile phone giants EE, Pizza Hut and Barclays have all moved their headquarters into the region. Other major employers in the area include Just Eat, Pangaea Laboratories and the HEL Group. This further adds to the appeal of living in Borehamwood. Indeed, an increasing number of these companies’ employees have relocated to the town.
Borehamwood house prices in 2020
Predictions for 2020 indicate that property prices in 2020 will continue to rise, which is great news for anyone planning to sell in Borehamwood. Prices last year grew 5% from £455,733 to £480,461 and that is expected to continue for the next 12 months. When you consider that house prices in London grew 2.8% last year, then you can see that the Borehamwood market is well positioned to continue an upward curve.