We’re gearing up for a busy few months at Seymours and we expect the increased level of activity to stretch long into autumn as the Surrey housing market continues to thrive.
All signs point towards a promising summer for the UK housing market as a whole, fuelled by low mortgage rates and the improving economy.
However the boost in demand for homes from second and third steppers as well as first time buyers has put upward pressure on house prices causing them to rise, particularly in the South East.
According to figures released by the Office for National Statistics, UK house prices went up by 0.9% from April to May, taking the average cost of a home to £274,000.
House prices in Surrey are increasing at a greater rate than those in London, which usually sees the highest level of growth. House prices in the South East grew by 8.2% in the year to May compared with 4.7% in London.
Seymours believes this is largely down to the high number of families relocating to Surrey from London, together with an increase in first time buyers attracted to the area by strong commuter links to London.
Lloyd Moss, Partner at Seymours Horsell, comments: ‘It’s an exciting and busy time for us and it’s obvious that there’s increasing confidence in the housing market.
‘We’re seeing increased movement at both ends of the market with a lot of interest from first time buyers typically looking for smaller one or two bed properties, and those expressing an interest in the larger six and seven bedroom properties we list in the Prestige Properties section of our website.
‘We’re advising anyone looking to move house to act quickly as the heightened activity in the market means that properties are being sold at a faster rate than at any other time this year, and property values are only going one way.’
If you’re looking for your next property, call in to your local Seymours branch where we’d be happy to talk through your options. We have 15 branches across West Surrey. Find your nearest Seymours branch here.