You’ve probably heard whispers over the garden fence that houses in our corner of the world are disappearing from the market before the "For Sale" sign even hits the grass. There is a common myth that unless you put an offer in within minutes of a viewing, you’ve missed out.
However, the reality on the ground from Felden to Bovingdon is actually quite different. If you’re a buyer, there is some positive news: the current market allows you to be thorough and considered in your search.
What the numbers don’t show you is the human side of this. Behind the 386 properties currently for sale across HP3, there are families looking to downsize to something easier to manage, or couples in Boxmoor hoping to find a bit more garden for a growing family. Because there is such a significant amount of choice for buyers, these moves are happening at a steady, measured pace rather than a frantic dash.
The "Plenty of Choice" Market At the moment, HP3 is firmly what we call a "buyer’s market." To put that in plain English, imagine going to your favourite bakery at 4:00 PM and finding every shelf still full of cakes. You don't have to nudge anyone out of the way to get your favourite loaf; in fact, you can take your time deciding which one looks best because the stock levels are so healthy.
We currently have a ratio of 14.3 homes available for every one home sold in a month. This is the big statistic to watch. It highlights the vast amount of housing supply currently available. Usually, when stock levels are lower—specifically when there are fewer than six homes available per sale—sellers are in the driving seat. But with a ratio of 14.3, the balance of power has shifted over to the buyers.
Understanding Market Activity Even though there is a high level of choice for buyers, market activity is starting to pick up slightly. Last month, that supply ratio was 16.7, so it has adjusted by 2.4. We also have 4 more homes on the market than we did last month, bringing the total to 386 properties currently for sale across the HP3 postcode.
Every month, about 26 homes find new owners. When you compare that to the 386 available, you realise that about 7% of the total stock is being successfully matched with a buyer each month. It’s like a game of musical chairs where there are dozens of chairs and only a few people playing—there is no shortage of options for those looking to move.
From Bovingdon to Boxmoor: The Real World We are still seeing some significant moves, though. Recently, a beautiful spot on Vicarage Lane in Bovingdon changed hands for over £2 million, and a home in Felden’s Sheethanger Lane went for £1.6 million. People are still falling in love with HP3; they are simply benefiting from the increased choice and being more selective about their next move.
The average price people are actually paying (the "sold price") over the last year is around £456,090, while the average price people hope to get (the "asking price") is a bit higher at £496,023. That gap tells us that with so much competition for sellers, buyers are successfully negotiating and securing properties below the initial asking price.
What this means for you If you are selling: You need to make your home look like the best one on the street. Because buyers have 385 other options in HP3, your home needs to stand out against the competition. It is vital to present your property at its best and listen to what the market is telling you regarding your pricing strategy.
If you are buying: This is your time! You have an abundance of choice, the luxury of reflection, and the power to negotiate. You don’t need to feel pressured into a decision you might regret.
If you are just watching: Your home remains a fantastic asset in a very desirable area, but the intense "bidding wars" of a few years ago have been replaced by a much more sensible, relaxed environment for everyone involved.