Local market reports › HP area › HP2

HP2 local market report Hemel Hempstead

Every figure on this page comes from the public record: 20,186 sales registered with HM Land Registry in HP2 (Hemel Hempstead) since 1995, each one a completed purchase at a real price, plus current rental figures from the ONS. Nothing here is a valuation, an estimate or an asking price.

Sales data to May 2026. Rents: ONS, May 2026. Regenerated with every monthly data refresh.

HP2 is the postcode district covering Gaddesden Row, Piccotts End, Grovehill in Hemel Hempstead. Districts are a practical way to slice a market: small enough to mean something locally, big enough to have a steady flow of sales to measure.

What a home in HP2 sells for

The 2026 median in HP2 is £353,800, from 114 registered sales; the mean, £357,100, sits almost on top of it, so sales bunch tightly around the typical price.

For scale: the England and Wales median is £274,000, so HP2 trades 29% above the country as a whole.

In cash terms the typical HP2 home went from £62,700 in 1995 to £353,800 in 2026, roughly 6 times the price. Even after inflation that is a real rise of about 166%: homes here genuinely became dearer, not just more expensive on paper. Measured in today's money the market peaked in 2021; the current median sits about 18% below that. Someone who bought at the 2021 peak has not yet seen that price back in real terms.

The strongest year on record here is 2003 (+25.0% on the year before); the weakest, 2009 (−10.1%). Single-year swings like these are why the annualised table below matters more than any one year's headline.

Annualised returns

Period	Cash, per year	Real terms, per year
1 years (since 2025)	−6.9%	−6.9%
5 years (since 2021)	+0.4%	−3.8%
10 years (since 2016)	+1.7%	−1.5%
20 years (since 2006)	+3.6%	+0.9%

Compound annual growth of the median sold price; the real column deflates by ONS CPIH. Annualised figures smooth the cycle (the chart above shows the cycle), and past growth is a record, not a forecast.

Transaction volumes

HP2 recorded 423 sales in the last twelve months of data. Like most of England and Wales, turnover never fully recovered from 2008: the market here averaged 810 sales a year before the financial crisis and 439 a year over the last five. Volume matters as much as price: when few homes change hands, the median gets jumpy and a single street can move the figure. The most recent year is always still filling in, because sales appear in the Land Registry weeks or months after completion.

What homes rent for around HP2

HP2 falls under Dacorum, where the ONS puts the average private rent at £1,579 a month (May 2026 figures). A one-bed averages £1,087 a month here and a four-or-more-bed £2,270, so size does most of the work in setting the rent.

Set against the £353,800 median sold price, £1,579 a month is £18,948 a year, a gross yield of 5.4%: gross, before letting costs, voids, maintenance and tax, so a ceiling rather than a promise. Rents are published at local-authority level, so nearby districts in the same authority share these figures.

Will HP2 prices rise from here?

Nobody can tell you that, and this page will not pretend to. What the record shows: the median is roughly flat over five years in cash but down 18% after inflation. If you are weighing a purchase, read the volume chart alongside the price one, and remember that every figure here is a completed sale, lagged by the weeks it takes the Land Registry to register it.

Ladders and snakes: five-year risers and fallers

HP2 ranks 16 of 24 in the HP area on five-year growth. The gap between the top and bottom of this chart is the difference between buying well and buying badly in the same city.

Inside HP2, street group by street group

Postcode sectors are the next slice down, each a group of streets. Prices can differ sharply between two sectors a few minutes' walk apart.

Sector	Median (latest)	Sales that year
HP2 4	£355,000	33
HP2 5	£348,800	34
HP2 6	£272,500	12
HP2 7	£362,000	35

How HP2 compares nearby

Same city, different markets. The neighbouring districts of the HP area, dearest first:

District	Median	5-year
HP9	£785,000	-11%
HP8	£749,200	-3%
HP6	£737,500	+17%
HP4	£667,500	+6%
HP7	£620,000	-1%
HP16	£560,000	-4%
HP17	£527,500	+11%
HP10	£525,000	+4%
HP27	£495,000	-1%
HP22	£485,000	+10%
HP15	£483,800	+1%
HP23	£480,000	-9%
HP14	£477,500	+6%
HP5	£475,000	+14%
HP3	£427,500	+7%
HP1	£412,500	+11%
HP18	£407,500	+8%
HP12	£405,000	+28%
HP13	£385,000	+16%
HP2 (this report)	£353,800	+2%
HP11	£332,500	+1%
HP19	£311,200	+13%
HP21	£310,000	+8%
HP20	£300,000	+15%

Dig further

See every individual HP2 sale on the live map, mapped to the exact address, or the quick-reference HP2 price page. The report tool writes a custom answer to a specific question, and the mortgage and rent calculator on any sale runs the numbers on a real purchase.

How this page is made: the statistics are computed from HM Land Registry Price Paid Data (Crown copyright, OGL v3.0), geocoded to address level; inflation adjustment uses the ONS CPIH index; rents are the ONS Price Index of Private Rents at local-authority level. Medians of recorded sales, not valuations. Nothing on this page is financial advice.