News & Legislation
November 26, 2021
Regional Property Market Update Winter 2021: Southern Home Counties - Surrey and West Sussex
Sales remain brisk as demand continues
The market is busier than in any year since 2007. In the first nine months of 2021, HMRC estimate that more than 1.2 million homes changed hands, 47% higher than the long-term UK average (2010–2019) and just 50,000 fewer than the same period in 2007. On average, there is now only 2.2 months’ worth of stock available in the UK, compared to four months’ stock in 2019 (TwentyCi).
Eight areas in the Southern Home Counties have seen more than one in every 20 homes change hands over the past year. The average annual rate of housing stock turnover in the area as a whole is 5.0%.
On the up
The average price of a property has increased significantly during the past year, a number of localities experiencing double-digit annual price growth. Agents anticipate price growth will moderate over the coming months to more sustainable levels, with predicted growth of 3.0% in the South East during 2022 (Zoopla). According to Dataloft, the annual increase in the average property price in the region is £28,700.
COP26 focused attention on the environment and energy efficiency. An Energy Performance Certificate (EPC) is needed whenever a property is built, sold, or rented. While 90% of new build properties achieve the highest A or B rating, just 1 in 14 resale properties currently reach that grade, although 60% could with improvements. Upgrading could prove lucrative; resale properties rated A/B currently attract a 13% price premium (based on £psf), compared to those properties with the average D rating1.
Properties for sale in the Southern Home Counties region of the UK
This spacious two double bedroom home is set within an enviable location to the West of Horsham, approximately 0.4 miles distant from the busy town centre. This charming period cottage offers stunning accommodation over four floors, including an open-plan living area, which boasts a warming central fireplace and plenty of room for a dining table, ideal for entertaining.
Located down a private lane, this beautifully presented former farmhouse boasts an abundance of character features and has been the subject of extensive renovation in recent years, as well as featuring a refitted kitchen and utility room. To the ground floor, there is a refitted kitchen-breakfast room with a separate utility room, a sitting room with an open fireplace and a reception-dining hall with a large Inglenook.
Found within this attractive period house, this spacious maisonette apartment benefits from its own private entrance, panoramic views and attractive communal gardens. The home is neutrally presented with period features and tastefully chosen contemporary additions, such as a Shaker-style kitchen and bath and shower rooms, making for an outstanding home. Further highlights include a wonderful sitting/family room, a main bedroom with a walk-in wardrobe and an additional dining room.
As property prices continue to rise and the UK hits a record number of sales for autumn, sell your property with experts in the property industry this winter. Contact your local Guild Member today.