News & Legislation

Regional Property Market Update Summer 2021: Southern Home Counties - Surrey and West Sussex

Posted on: Thursday, June 24, 2021

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2021 is set to be one of the busiest sales years in over a decade

Agents report the sales to stock ratio across the South East is at its highest level since spring 2016 (RICS). At 3.9% the annual rate of housing stock turnover in the Southern Home Counties is above the UK average. Levels currently exceed 4% in the most active markets.

 

 

Price growth strengthens

Although new instructions to the market have improved slightly in recent weeks, demand continues to outpace supply, placing sustained pressure on prices. Month-on-month average property prices are rising in all regions of the UK.

Year-on-year price growth across the South East is substantially stronger than the 1.9% recorded this time a year ago (UKHPI). Double-digit annual price growth is evident in six local areas across the Southern Home Counties.

 

 

A seller’s market

Market activity is fast-paced. According to Rightmove, the average time taken to sell a property in the South East is 47 days. The proportion of properties selling within their first week of listing is at a record high (Zoopla) and the average time taken to sell a property in the UK is nearly three weeks quicker than in April 2019 (Rightmove). Lifestyle change continues to drive demand, buyers also aided by the extension of elements of tax relief and the new 95% government-backed mortgage guarantee scheme, available on either new or resale properties.

 

 

Properties for sale in the Surrey and West Sussex regions of the UK

Woking, Surrey, 4 bedrooms

Approached via a pitched roof porch with space for coats and boots, the period character of this property is immediately apparent. The entrance hall boasts exposed wooden beams, a welcome feature found throughout the house and provides access to the principal reception rooms. There are two sitting rooms, both with impressive Inglenook fireplaces. One houses a wood-burning stove whilst the other has an open fire. The dining room enjoys access directly onto the patio via French doors, a brilliant area for entertaining. The large flagstone patio spans the width of the house and leads to gardens with views over fields beyond. 

Colworth, Nr Chichester, 3 bedrooms

This idyllic and beautifully presented rural property provides a wealth of period features, modern countryside living, an abundance of natural light, and the benefit of further accommodation within a self-contained annexe. Believed to have been originally converted 25 years ago, Highkettle Barn is approached from a quiet lane and sits within beautifully maintained grounds. The main barn is arranged over two floors and from the wide main stable door, you enter a spacious entrance hall with gorgeous flagstone flooring which leads to various rooms around the home.

Reigate, Surrey, 3 bedrooms

South Pavillion Cottage is located on a private lane in a beautiful semi-rural setting. The Grade II Listed home features well-proportioned accommodation, a garage, off-road parking, and a south-facing rear garden. Built originally as a cricket pavilion in 1937, the front of the cottages still very much represents the cricket pavilion with handsome pillars and a clock tower overlooking the fields in front which would have originally been the cricket pitch.

Contact us

Take advantage of the seller's market this summer with the best agent in your area. Contact your local Guild Member today.