09 Dec Is Surrey Property still a Good Investment
It’s fair to say that 2017 has had a bit of an impact on the doubt of property investors. We’ve seen a lot happen with Brexit, the mortgage tax-relief removal for high-end tax payers, stricter lending rules for big buy-to-let investors and the scrapping of stamp-duty for first time buyers (but only for property less than £300,000). It’s been a crazy year! Yet, you shouldn’t lose confidence in your investments, and certainly not on property in Surrey.
At Barton Wyatt, we’re consistently seeing investors buying all over Surrey, from property in Upper Longcross to Windlesham, and this hasn’t faltered despite the events of the year. Here’s everything you need to know about why Surrey is still a perfect place to invest your money in property.
HALT IN CAPITAL PROPERTY INVESTMENT
It’s true that the city of London has been hit slightly, with property investment slowing and less enthusiasm on the market to take property in the capital. There are a number of reasons for this, including rising property prices, cost of living and a dislike of the busy city life. But, with this outflow from London, many are moving to areas that are far enough out of the city to not be impacted by the high prices but close enough to make a commute bearable. One of those spots is Surrey.
AN INCREASE IN DEMAND
This flood of city dwellers escaping to the welcome tranquility of Surrey hasn’t gone unnoticed on the property market. In fact, in just 10 years, most areas have seen a base increase of over 30% on all categories of properties. Flats in Tandridge have increased a huge amount, rising 56.8% in price since 2007.
This steady increase in house prices is set to continue. It does make sense, as prices continue to rise in the city (both property and living costs) and it becomes a less desirable place to live, Surrey’s popularity ever-increases. This means that, if you buy property as an investment now in such a hot-spot, you can be pretty certain that the price of that property will increase over-time at a good rate.
WORRYING OVER NOTHING
Everything we spoke of at the very beginning of the article, such as Brexit and tax-relief cuts, seems to have worried people for no reason. In fact, despite the apparent bleak outlook, the reality of the UK’s property market is very different. House prices have seen an inflation of over 6% in the most recent Hometrack report, in spite of Brexit and all that happened after. So, any doubts you may have about these things have no evidence to back them up – it’s quite the opposite!
If you’ve realized what a great investment Surrey is right now, whether you look to buy property near Upper Longcross, Virginia Water or anywhere in our beautiful county, get in touch with us at Barton Wyatt. We’re experts in the Surrey property market and can help you with finding the right property for your money and offering any advice you may need. We’re always happy to help!