Richard Tugwell

UK self-employed hotspots experience house price surge

Property values have significantly increased in areas with the highest concentration of self-employed people, new research has shown.

Analysis of ONS and Land Registry data by Together has found that property values have increased in all of the top 10 local authority self-employment hotspots. 

Three Rivers district in Hertfordshire was revealed as the country’s biggest self-employment location, with 23.8% of the population running their own businesses.

The area has experienced an increase of 9.6% in house prices over the past two years (UK average: 7%).

Three Rivers was followed by Chiltern district council in Buckinghamshire, where 22.3% of its population was self-employed and the area had a 15.6% increase in house prices over the same period.

Richard Tugwell, group intermediary director at Together (pictured above), said: “While buying at a time of steeply rising house prices could offer self-employed workers more financial security, many would-be borrowers in these areas are missing out on this significant opportunity because they can’t get a mortgage from their banks.

“Mainstream lenders often rely on computerised systems to check a borrower’s credit history and affordability, meaning those who don’t “tick the right box” can easily fall through the cracks. 

“Unfortunately, the self-employed – who might have irregular income or a shorter trading history – are often victims here, being deemed as ‘too high risk’ for many high street banks to lend to.”

Top 10 self-employed hotspots


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