LATEST SURREY PROPERTY PRICE UPDATE (DECEMBER)

Welcome to my December Surrey Property Price Update! House price growth has now hit 13.6% in the last 12 months (October 2013 to October 2014)…

Here’s a quick snapshot of the facts:

Average price changes:

Yearly: +13.6%
Monthly: +1.1% (0.3% more than the previous month)

Sales Volume (total number of properties sold):

The total number of properties selling in Surrey year on year has FALLEN by 6.3%. A total of 2176 in August 2013 compared to 2038 in August 2014. Could the continued price rises be caused by a continued lack of supply?

By property type:

The average price of a detached house in Surrey is now £639,702.
Semi detached: £334,573
Terrace: £288,933
Flat/Apartment: £225,474

My Summary…

Recent talk of the heat coming out of the Central London market might just be a reality with prices in Kensington & Chelsea falling by -2.5% in October.

This is likely to have a knock on effect at the top end of the Surrey market with properties at £1,000,000+ not seeing as much interest compared to this time last year and so taking longer to sell.

That said, upto £1,000,000 is still very strong. My estate agency has recently sold this stunning property for £100,000 OVER the guide price and this smaller property received 14 separate offers, some 10% over the guide price so there is still clearly ALOT of demand (as long as the marketing is correct of course)

Now For The Fun Part…

This TREMENDOUS house in Oxshott was sold in October by Knight Frank but can you guess how much it sold for?

Click here to see the amazing pictures and submit your guess on Facebook.

Selling a property? Don’t forget to check out my eGuides which are full of FREE & IMPARTIAL advice to help you.

All the best,

p.s. Would you like more impartial advice? Head on over to my FREE eGuides page by clicking here.