Number of homes in Herts increased and 'it's a sign of return to pre-Covid levels of activity’

THE number of homes in Hertfordshire increased by 4611 in 2022/23, according to data due to be presented to councillors this week.

And that’s being taken as a sign that the housing market has now returned to ‘pre-Covid levels of activity’.

The net increase of 4611 net new homes is 431 higher than the number recorded in 2021/22 – that’s an increase of 10.3 per cent.

And its close to the 4618 recorded immediately before the impact of the pandemic in 2019/20.

The data is due to be reported to a meeting of the county council’s performance and resources cabinet panel, on Friday (December 1).

Overall that data shows that the ‘gross’ number of new homes built in the county last year (2022/23) was 4924 – and includes 2511 built on ‘windfall’ sites.

And it shows that the net number of new homes built in the county in the past 22 years – since 2001 – is 83,432. That’s an average of 3792 a year.

But it also shows how hard it is to buy a property in the county, compared to other places.

The housing affordability ratio compares median house prices to median earnings.

According to the report due to be presented to the meeting, the affordability ratio in Hertfordshire is 12.6 – which is said to be ‘notably’ higher than the England average of 8.3.