But rising values have priced out many landlords. In two years, prices have jumped 20pc. Mr Cooke estimated the share of investors buying property fell from 30pc to 10pc.
Now, a shortage of lettings is fuelling big rent rises. “We are seeing 20 renters for every listing,” said Mr Cooke. Rent on a three-bed semi has jumped from £600 per month to £850.
Families
The cathedral city of St Albans in London’s commuter belt has a high proportion of top-performing state schools, with 3.7 per 10,000 residents and a 21-minute train to London St Pancras.
It is also the most expensive small city in the top 10 for families, with homes costing £613,302. Prices are rising fast. Rozanne Edwards of Strutt & Parker estate agents noted a family house that had a £1.375m asking price. “We had 52 viewings and 31 offers, the highest was £200,000 over the guide.” Demand from the capital “easily doubled” during the pandemic, she added.
Streets around Bernards Heath Infant and Nursery School, north of the city centre, are a hotspot for smaller cottages of up to £600,000, while the most expensive properties, up to £2m, can be found on the north-eastern side on Marshal’s Drive and Sandpit Lane.