Wellingtons Property Edit - August
The start of September always has a strong ‘back to school’ feel to it, regardless of whether you have school-aged kids or not. And the signs I’m seeing and hearing suggest fresh impetus for the property market locally in Surrey Heath.
Following hot on the heels of a completion and exchange in the last couple of weeks, I’m very excited to shortly have news of a few new Wellingtons instructions, each launching this month!
But enough of that for now. In this issue of the Edit, we’ll share headline stats from the UK and local market, industry news and views on what the remainder of 2026 will look like.
Market Watch
In Surrey Heath, the average house price is up to £461,000, compared with a UK average of approximately £272,000.
House prices in Surrey Heath have risen by 6.1% over the past year, significantly outperforming the South East region.
Buyers continue to have plenty of choice, with Zoopla reporting 5% more homes for sale than a year ago. Correct pricing remains key.
Around 74% of homes sold this year did so without requiring a price reduction. Those homes took an average of 36 days to find a buyer, compared with 127 days for properties that took a price reduction.
Buyer activity is beginning to recover following the summer slowdown, with searches for homes are now 7% higher than a year ago.
Mortgage rates rose in early August with Moneyfacts' latest data putting the average two-year fixed rate at 5.59%.
Looking ahead to autumn, there are signs that suggest growing demand albeit being slightly tempered by continued affordability pressures.
Zoopla says buyers' purchasing power has fallen by 9% since January as mortgage rates have risen.
Sources: Rightmove, Zoopla, ONS, Moneyfacts
Wellingtons Spotlight
Featured listing: Westminster Mansions
There’s so much to love about this 2-bedroom apartment in Camberley... from the gated access and open-plan living space, to the stunning views from its southwest-facing balcony. Know any first-time buyers or investors looking for something like this?
Property News Snapshot
Is autumn really a good time to sell? (Zoopla)
This is a helpful overview for homeowners contemplating but not yet committed to a sale. Among advice offered, it covers the importance of correct pricing and being aware of local conditions, and buyer demand.
Half of homes taking longer to sell than last year (The Guardian)
This article, citing data from Zoopla, delves into why many sales are taking longer this year with mortgage market volatility and the fallout from the Iran war key factors behind buyer caution.
6-week guide to selling this autumn (Wellingtons)
With hotter summers becoming the new norm in the UK, this article offers practical, research-backed ideas for keeping homes cool without air conditioning.