10 May Property Market Trends in Surrey
At Barton Wyatt we keep a close eye on the property market in Surrey, which has seen its ups and downs over the recent years.
Surrey as a Whole
Over the year, house prices in Surrey saw a rise of 5% on average, showing good growth and a flourishing market. This is 0.5% higher than the national growth seen between 2015-2016, so we are definitely on the right side of the figures! Rightmove reported that terraced houses saw an average price of £499,916 and semi-detached a very agreeable £530,370. This gave us an overall property cost average of £509,350, which is higher than West Sussex, Berkshire and East Sussex. For us, this came as no real surprise as the desirability of Surrey properties has been steadily rising far quicker than those surrounding areas. It is a lovely place, after all!
Under the Microscope
When we look closer, the active market is very much wide-spread across the county, with areas including Virginia Water and property in Longcross seeing some of the highest averages. Property in Virginia Water came in at £940,921, whilst property in Longcross is set to rocket with the new garden village at Longcross now under construction. Contact us for further details of these new houses.
What this Means
Essentially, this pretty much county-wide rise in house prices is good news. It means that our property market is moving nicely and there is a constant demand to meet supply. With London seeing a decrease in dwellers (and in certain areas, prices too), this is not too surprising. More city workers are moving into our county for it is easy access to the city and of course for it’s beautiful surroundings and undeniable appeal. If you’re selling your property in Surrey, expect things to move at a good pace and perhaps to even get more than you expected!