Hertfordshire Property Scene: A Q1 2025 Review - A Look at the Numbers
The first quarter of 2025 has wrapped up, and if you're keeping an eye on the Hertfordshire property scene, you'll know it's been anything but dull! March, in particular, saw a flurry of activity, largely thanks to the stamp duty holiday deadline.
But what did that really mean for local hotspots like Hitchin and Welwyn Garden City, and how did the bigger national picture play into it?
Let's dive into the trends, and don't just take our word for it – we'll be pointing you to some key visuals (the very ones you've got from the detailed 'June Property report .pdf') so you can see the story unfold.
Hitchin: A Q1 Sprint to the Finish Line
As Q1 2025 drew to a close, Hitchin's property market was certainly active. If you glance at the visual data for "Properties for Sale, New Listings, and Sales Agreed" for Hitchin, the March 2025 figures tell a clear story. The representation for properties up for grabs stood at 1,044. New homes hitting the market peaked at an impressive 303, and sales agreed reached 203 – a busy month indeed!
What about prices? The data for "Asking Prices (New Listings & Sales Agreed)" for Hitchin shows that new listings in March averaged £545,783. Interestingly, the price for properties where sales were agreed was £448,326. For a deeper dive into value, the visual for "£ per sq ft (New Listings & Sales Agreed)" breaks this down further.
And the market's pulse? The data presented for "Price Changes, Withdrawn, and Fall-throughs" shows 145 price adjustments, 97 properties taken off the market, and 46 sales unfortunately not making it to completion in March.
Hitchin's March 2025 Scorecard:
For Sale: 1,044 properties
New on Market: 303 properties
Average Asking Price (New): £545,783 (£498/sq ft)
Sales Agreed: 203
Average Asking Price (Agreed): £448,326 (£467/sq ft)
Price Tweaks: 145
Withdrawn: 97
Sales Fallen Through: 46
Welwyn Garden City: Q1 Activity Heats Up
Welwyn Garden City wasn't sitting on the sidelines either! The visual information for "Properties for Sale, New Listings, and Sales Agreed" for this area shows that in March 2025, there were 531 homes for sale, 141 fresh listings, and 86 sales agreed. Comparing these trends to previous months gives a great visual sense of the Q1 momentum.
When it came to asking prices, the March 2025 figures were noteworthy. New listings averaged a striking £629,750, while sales agreed were at £526,081. You can see these trends in the visual data for "Asking Prices (New Listings & Sales Agreed)" for Welwyn Garden City. The detailed breakdown of these figures, including price per square foot, is also available in the data tables you have.
For other market movements, the data you have clearly shows 66 price changes, 33 properties withdrawn, and 25 fall-throughs in March for Welwyn Garden City.
Welwyn Garden City's March 2025 Scorecard:
For Sale: 531 properties
New on Market: 141 properties
Average Asking Price (New): £629,750 (£510/sq ft)
Sales Agreed: 86
Average Asking Price (Agreed): £526,081 (£490/sq ft)
Price Tweaks: 66
Withdrawn: 33
Sales Fallen Through: 25
The Bigger Picture: National Trends Shaping Hertfordshire
It's always good to zoom out and see how local trends fit into the national scene. Your report is packed with visuals for this!
Selling Power: Ever wonder how close sellers get to their asking price? The data for "Asking to achieved prices (England & Wales)" is revealing. The 2025 figures (for Q1) hit 99.0%! It shows sellers were getting very close to their final asking prices – a strong sign.
March Madness (Transactions, that is!): The visual for "UK Monthly Residential Property Transaction Volumes" has a can't-miss-it spike for March 2025, hitting 177,370 transactions. That stamp duty deadline really made its mark!
How's Everyone Feeling? (Market Sentiment):
Is it a "Good time to buy"? Sentiment on this showed a little dip in agreement from 20% in January to 17% in April.
What about future prices? The visual titled "How do you expect residential property prices in the UK to move over the next 12 months?" showed that in January, more people expected prices to rise than fall (a net balance of 33%).
Economic Backdrop:
Inflation: The visual for the "Annual inflation rate (per cent)" shows inflation calming down to 2.6% in March, heading towards that 2% target.
Interest Rates: The data for the "Bank Rate (per cent)" shows the rate holding steady through Q1, before the May cut to 4.25%.
Homes on the Market: The visual for "Total Stock of Property for Sale, England and Wales" confirms that there were plenty of properties available nationally leading into and during Q1.
So, What's the Hertfordshire Story for Q1 2025?
Wrapping up Q1, especially that busy March, Hertfordshire saw a real surge in activity. The local charts and tables you have clearly show new listings and sales picking up, largely driven by buyers and sellers making moves before the stamp duty changes.
Nationally, sellers were achieving prices very close to their asking, and March was a blockbuster month for transactions. However, there was a little bit of caution creeping into how people felt about the market as the quarter ended.
It's this mix of local energy and wider national trends (all there to see in your graphics!) that painted the picture for Hertfordshire's property market at the start of 2025. What will Q2 bring? Stay tuned!