As I mentioned in a previous article, the average house price in Letchworth is 10.1 times the average annual Letchworth salary. This is higher than the last peak of 2008, when the ratio was 8.18. A number of City commentators anticipated that in the ambiguity that trailed the Brexit vote, UK (and hence Letchworth) property prices might drop like a stone. The point is – they have not. Now it is true the market for Letchworth’s swankiest and poshest properties looks a little fragile (although they are selling if they are realistically priced) and overall, Letchworth property price growth has slowed, but the lower to middle Letchworth property market appears to be quite strong. Scratch under the surface though, and a different long-term picture is emerging away from what is happening to property prices. Letchworth people are moving home less often than they once did. Data from the Office of National Statistics shows that the number of properties sold in
read more Letchworth Home Owners Are Only Moving Every 15.5 Years (Part 1)