“September saw a substantial increase in stock levels within Ivy Gate offices. The Brexit hangover and long hot summer months behind us sellers woke up and decided this is as good a time as any to move. Surrey has seen a growing trend of sellers looking to move out of London, seeing house prices as being at their height and little confidence in house prices rising at the same rate as previous years. The “hottest” price bracket remains between £600,000 and £900,000 with many families still being drawn to the increasingly sought-after local schooling. We have seen an oversupply of flats in some postcodes which in turn have seen prices falling with this type of property. Premier homes in the area (£1m+) are selling but vendors need to be realistic with their asking prices. RICs have recently reforecast that house prices will rise by 3% every year for the next 5 years. If so, this might just be the stability we are all looking for.”
Stuart Ripley is the Sales Director for Ivy Gate and specialises in the Thames Ditton and Long Ditton markets.