Christies House Price Index - Local property prices have risen 9% this year

The latest Christies House Price Index, uses the most up to date reliable data from the Land Registry, and also confirms that property in the local area continues to represent an outstanding investment.

Local property prices have risen 9% this year. Medium and long term gains are even more exceptional. Based on past performance potential buyers will be very encouraged to see that prices have risen by 36% over the previous ten years and by an astonishing 165% over the previous 15 years.

What is perhaps even more impressive is that prices are now 35% higher than they were five years ago and are now 10% higher than at the previous peak of the market in 2008.

The comparison is based on the average price of all local properties sold including flats, maisonettes, all types of houses and bungalows. Figures for August onwards are not yet available - the Index will be revised as soon as the data is released so please check this page regularly for any updates.

Date..............Average Price.........Average Price July 2014.......YEARS............INCREASE 

Jul-99..............£110,142.........................£296,612.........................15.....................165%

Jul-04..............£216,795.........................£296,612.........................10......................36%

Jul-09..............£218,537.........................£296,612..........................5.......................35%

Over the years, and particularly in recent times, demand for properties in Cheam, Sutton, Carshalton, Worcester Park, Ewell, Epsom, Banstead, Chipstead, Kingswood, Tadworth and surrounding towns and villages has increased dramatically. Much of this demand is due to the location of the properties we sell, which are ideally situated on the fringes of London, bordering rural Surrey greenbelt countryside with picture postcard villages and market towns full of rich heritage and character.

Buyers flood into the area to take advantage of a wide range of leisure and shopping amenities. The local schools are nationally renowned and attract large numbers of enquiries, ensuring that property sale levels and prices have remained well above quoted national averages.

Cheam, Sutton, Carshalton, Worcester Park, Ewell, Epsom, Banstead, Chipstead, Kingswood and Tadworth all enjoy flourishing local communities with many popular cafés, restaurants and varied independent shops and businesses; this, coupled with many high street names, creates an enviable mix of retail and food outlets. Combined with excellent road and rail links, demand for property remains constant and represents an exceptional investment.

Christies have an unparalleled understanding of the area and are dedicated to ensuring customers are always informed – not just on the property market and prices, but also the area and amenities. When looking at buying a new home, we believe it is imperative that our purchasers are fully informed about all aspects of the potential move.

Your estate agent should be able to answer any of your questions regarding this. We are proud to represent this area and convey that passion to anyone looking to move here.

Please contact either Andrew Richardson, Jeremy Richardson or Richard Killoughery on 020 8643 7777 to get moving or email us at sales@christiesworld.com.

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Back to School

Nick Churton from our Mayfair Group global network suggests some suitable prep before entering the property market this autumn.

One of the great triggers in the property year is the beginning of the autumn school term. Once the children are back to school there is more time for house hunting and just enough time to be in a new home by Christmas.

But just as the children are learning new things there are new things to be learnt in buying and selling property. Even to those who have bought and sold several times before, this is a new market. The property market is always in flux.  Even experienced estate agents won’t say they have seen it all before. But they have seen more than anyone else.

So here are some lessons that you might like to bear in mind if you are coming into the market this autumn.

The media hype in newspapers and on the TV and radio about a buying frenzy across the UK is far from reality. Certainly there are hotspots like central London and certain towns and cities where the market has surged ahead. But that doesn’t mean it is surging everywhere. In many locations values haven’t reached their pre-2007 levels. The market still remains a price sensitive one.

In fact many agents now think that the heat is coming out of the market even in the hotspot areas as buyers are beginning to resist what they believe are overblown prices.

Confidence is a crucial factor in the property market, and while confidence in the economy is better now than it has been for many years there are factors that do have an opposing effect. The mortgage lenders are working on stricter lending criteria. At the upper end of the market there is uncertainty and fear about a mansion tax being levied in the future. In Scotland many are waiting the result of the referendum that will be held on 18^th September. In the rest of the UK it won’t be very long before we are at the business end of a general election campaign with all the uncertainty that brings.

So some things about the market never remain the same. But some do. Buyers always like to purchase well and sellers always like to sell well – a recipe for conflict. So the big lesson for anyone entering the property market this autumn is compromise. With compromise come deals. Without compromise there is little but frustration and no move before Christmas.

So talk to those who have seen a great deal before. Take advice from mature and experienced estate agents. They are not there to take advantage of you – despite what the media likes to say. They are there to get the best deal for you. Don’t demand too much or accept too little. Be flexible. Understand the market conditions which apply today and not in the past – nor what you hope they may be in the future. And there the lesson ends.

Please contact us on 020 8643 7777 or email at sales@christiesworld.com

www.christiesworld.com