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Property Prices in Bookham and Effingham

03/11/2016

Despite it being a turbulent political year not to mention Brexit (oops I just did)  according
to Zoopla, house prices in Bookham and Effingham have increased in the last 12 months. Sally Asling, director of SurreyLets looks at the sales data.


The Sales market in Bookhamhousing-market


Property in the Bookham area has seen a growth of 7.47% in the last year  (Oct 2015 – Oct 2016)  which for the average Bookham property is an increase of  around £46,571
This is Great News for Bookham homeowners


The current average value is 668K whilst the average sold price is 615K . The average detached property in Bookham in October 2016 is 833K with the average Semi standing at 526K, Terraced homes at 430K and Flats averaging 294K


The Sales market in Effingham


Across the whole market there has been an increase though out the year. However over in Effingham, property prices have performed just a smidgen higher in pounds and pence, but the increase is is the same at 7.47%


Over the past year 24 sales have been agreed in this data catchment. The average value was 815K and the average sold price was £674K.  The average detached property has an average sold price of 981K, with the average Semi standing at 536K, Terraced homes at 525K and Flats at 437K


Rentals in Bookham and Effingham



Sally Asling – Letting Director at  SurreyLets states:  “The  average price for a 4 bedroom rental property in both Bookham and Effingham is in the region of £2500 – 3000pcm with 5 bedrooms reaching up to £3500pcm on average, however there is a severe shortage of stock in the Bookham and Effingham rental markets across all price categories which are effectively pushing rentals up.  Whilst the corporate market has slowed down, the slack is being picked up by the sheer number of people renting as they are self building or extensively renovating their own homes. If you are thinking of renting your property, SurreyLets are confident we can get you the maximum rental for your property in any price range.”



Forecast


Many people are concerned that the prices may dip following Brexit. However there are absolutely no signs of this in this areas of Surrey at the moment.


A trio of data from the NAEA suggests the UK is shrugging off the impact of Brexit with the housing market rebounding to pre-referendum levels.


There was a 16% jump in potential buyers in September, pushing numbers back up to levels not seen since June, while sales agreed rose by 12.5%, according to the National Association of Estate Agents (NAEA).Meanwhile, government figures showed the UK’s economy grew by a stronger than expected 0.5% between July and September, providing further support for the housing market.


Buyers and sellers appeared to have adopted a ‘wait and see’ approach immediately following the vote to leave the EU. The interest rate cut in August is thought to have helped boost confidence, as people expect mortgage rates to remain low for longer than previously thought.


Read more here



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