June Market Update - Christies House Price Index - Local property prices continue to increase

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 increased by at least 19% in 2014 and continue to rise in 2015. 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 33% over the previous five years, by 42% over the previous ten years and by an astonishing 138% over the previous 15 years.

What is perhaps even more impressive is that prices are now also 19% higher than at the previous peak of the market in early 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 May 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 Apr 2015.......YEARS............INCREASE

Apr-00..............£135,138.........................£321,026.....................15....................138%
Apr-05..............£225,476.........................£321,026.....................10.....................42%
Apr-10..............£241,938.........................£321,026......................5......................33%

In recent times, demand for properties in Cheam, North Cheam, Sutton, Stonecot Hill, Carshalton, Worcester Park, Ewell, Epsom & Banstead  and surrounding towns and villages has increased dramatically. Much of this demand is due to the extremely popular local schools which are nationally renowned and attract large numbers of enquiries, ensuring that property sale levels and prices have remained well above quoted national averages.

Buyers also flood into the area to take advantage of a wide range of leisure and shopping amenities. Flourishing local communities offer popular cafés, restaurants and varied independent shops and businesses coupled with many high street names, creating an enviable mix of retail and food outlets.

These combine with excellent road and rail links, to ensure demand for property remains constant and represents an exceptional investment.

Christies have an unparalleled understanding of the locality and are dedicated to ensuring customers are always informed – not just on the property market and prices, but also the wider area and amenities. 

For example, the location of the properties we sell, 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.

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

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Twenty Words

Nick Churton of our London Mayfair Global Network considers the property market in the aftermath of the 2015 general election and the new government’s approach to housing – or not!

The Queen has never had to be too concerned about her own housing. Of course Buckingham Palace was bombed during the war and there was that dreadful fire at Windsor Castle in 1992 – her annus horribilis.

But with Buckingham Palace, Windsor Castle, Holyrood House, Hillsborough Castle, Sandringham House, Balmoral Castle and Craigowan Lodge to choose from there is no shortage of royal accommodation. So housing concerns must be left to the Queen’s subjects.

Royal or not, having a roof over one’s head is a big matter – one of the most fundamental of human requirements and desires whoever you are. So when the Queen read out her speech at the opening of parliament she may have been intrigued as to what her government was going to do about housing. After all there was a lot said about it in the run up to the election.

We had had plenty of mansion tax talk and debate concerning non-dom status and stamp duty rises - not to mention rent caps, three year tenancies and restricted landlord tax relief. All this without doubt helped to cool the housing market across the UK and may have even played a small role in Labour’s downfall at the ballot box.

But in the event the Queen didn’t say very much about housing at all. In fact all she did say from a 1007 word speech were twenty words, "Legislation will be introduced to support home ownership and give housing association tenants the chance to own their own home." Apart from extending the right to buy to housing association tenants, housing it seems has once again been kicked into the parliamentary long grass while matters like Scotland, Europe and the Middle East sit in the much shorter grass.

Never mind. Without all the fears of what another government might do and now knowing what this government won’t do means that it is once again business as usual in the housing world. Already there are clear signs that the market is recovering quickly from its pre-election jitters. This will we hope please the Queen. It certainly will please most of her subjects.

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