Our Chairman, Nick Leeming, provides an overview of our latest research report, which compares property values in Roman Towns and New Towns over the past 20 years.
Thinking back to John Cleese’s famous line, ‘What have the Romans ever done for us?’, our latest report confirms that the answer should indeed be positive – especially when it comes to property.
Our research shows that property values in Roman towns, including London (Londinium), Bath (Aquae Sulis) and Cambridge (Duroliponte), outperform the UK average by more than 80 per cent and are 56 per cent higher than New Towns.
The Romans originally built Britain’s first towns over 2,000 years ago with London, Colchester and St Albans being the three largest. In contrast, New Towns were built 70 years ago following the Second World War in order to relocate those affected by bombing.
Unsurprisingly, London (Londinium) took the prime position as the nation’s top house price performer, with a total rise of 355 per cent over the last 20 years. St Albans followed a close second, with a rise of 323 per cent, taking its average house price total to £536,456.
|Roman Towns||Roman Name||Average House Price (April 2016)||% increase over 20 years|
In comparison, Basildon took the crown for best New Town performer, with a rise of 314 per cent, pipping Hemel Hempstead to the post by four percentage points (310 per cent).
|New Town name||Average House Price (April 2016)||% rise over 20 years|
Roman Towns are as popular today as they were over 2,000 years ago and our research demonstrates that their popularity has directly affected property values. Well designed and future proofed, they are imbued with history and evidence of the Roman occupation is still very much visible today.
These towns were generally built in prime strategic locations guarding rivers or on elevated territory and so enjoy fantastic positions not always enjoyed by the New Towns. They have antiquity and a layering of history which make them magnets for today’s home buyers. However, we mustn’t forget New Towns, such as Basildon, Welwyn, Crawley, Stevenage and Milton Keynes, which may provide rather better value for home buyers because they are generally cheaper that the majority of Roman Towns.