South East property news: latest developments
Hardly a week goes past without a new landmark survey or house price index being launched and of late, a large proportion of news has come from the South East. One of the biggest announcements came from Chancellor George Osborne, who in March revealed plans for 20 new housing zones outside of London. The South East is set for two of these zones - in Guildford, Surrey, and in East Hampshire. More than 4,000 properties are to be created, with a mix of private and affordable housing going a long way to address the undersupply of South East property. The Government will be working with developers and local authorities to unlock land and provide the required infrastructure. We mention an undersupply of new homes and this does have a direct impact on property prices in the South East. A new report by property portal Zoopla indicates that property prices in the countryside now are keeping pace with those in cities. Rural homes in the South East of England have climbed in value 6% in the last 12 months, which equates to uplift of £22,157. Compare this to a 5.7% house price increase in towns and cities across the UK, and you can see that South East property in bucolic locations is growing in appeal. Any new or accelerated house building programmes will be welcomed by South East estate agents and property buyers, yielding more homes to purchase and lessening competition for the finite number of current properties for sale. The same report also revealed that Gerrards Cross in Buckinghamshire is the most expensive rural have in England, with the average home there rising by £43,650 in value over the last year. Speaking of most expensive, it was Surrey that came out tops in a new poll to find the most expensive places to live in England outside of London. South East property in Esher and Walton are the third most expensive outside of the capital, claim Trinity Mirror, while Epsom, Ewell, Mole Valley, Runnymede and Weybridge were all among the ten least affordable constituencies outside of London. Surrey property is also stealing the Sunday Times headlines as they named new members of the 'Golden Postcode Club' - places where the average property costs more than £1 million. Guilford and Cobham were the only non-London new members to the club this year, out of a total 21 new joiners. If you are interested in South East property or have a home you would like a free market appraisal on, please contact Winkworth today.
Hardly a week goes past without a new landmark survey or house price index being launched and of late, a large proportion of news has come from the South East.
One of the biggest announcements came from Chancellor George Osborne, who in March revealed plans for 20 new housing zones outside of London. The South East is set for two of these zones - in Guildford, Surrey, and in East Hampshire. More than 4,000 properties are to be created, with a mix of private and affordable housing going a long way to address the undersupply of South East property. The Government will be working with developers and local authorities to unlock land and provide the required infrastructure.
We mention an undersupply of new homes and this does have a direct impact on property prices in the South East. A new report by property portal Zoopla indicates that property prices in the countryside now are keeping pace with those in cities. Rural homes in the South East of England have climbed in value 6% in the last 12 months, which equates to uplift of £22,157. Compare this to a 5.7% house price increase in towns and cities across the UK, and you can see that South East property in bucolic locations is growing in appeal. Any new or accelerated house building programmes will be welcomed by South East estate agents and property buyers, yielding more homes to purchase and lessening competition for the finite number of current properties for sale. The same report also revealed that Gerrards Cross in Buckinghamshire is the most expensive rural have in England, with the average home there rising by £43,650 in value over the last year.
Speaking of most expensive, it was Surrey that came out tops in a new poll to find the most expensive places to live in England outside of London. South East property in Esher and Walton are the third most expensive outside of the capital, claim Trinity Mirror, while Epsom, Ewell, Mole Valley, Runnymede and Weybridge were all among the ten least affordable constituencies outside of London.
Surrey property is also stealing the Sunday Times headlines as they named new members of the 'Golden Postcode Club' - places where the average property costs more than £1 million. Guilford and Cobham were the only non-London new members to the club this year, out of a total 21 new joiners.
If you are interested in South East property or have a home you would like a free market appraisal on, please contact Winkworth today.
