Wednesday, January 26, 2022
Real EstateUK

Property prices at some Surrey postcodes rise by a quarter

Lingfield

The Lingfield area saw the county’s biggest rise, according to the Land Registry

Homeowners in some Surrey postcodes are sitting pretty on a property pot of gold after a surge in house prices in 2021 saw some rise in value by almost a quarter.

The Lingfield area saw the county’s biggest rise according to figures from the Land Registry from homes sold in the year to October which is the most recent month available.

The RH7 postcode area, which also covers Dormansland, Crowhurst, Blindley Heath and Newchapel, saw the average property price rise by 24.5% in the 12 months to October 2021 – from £393,000 in the year to October 2020 to £489,250.

While there were some winners, there were some losers too. In RH3, which includes Betchworth and Brockham, prices fell by 8.2% in the year to October 2021, down from an average of £670,000 to £615,000. That was the biggest fall locally.

The most expensive postcode in those 12 months in Surrey was GU25, which covers Virginia Water, with an average price of £930,000, which was up 9.4% from £850,000. The least expensive postcode was GU12, which includes Ash Vale as well as Aldershot over the Hampshire border where the average was £340,000, up 6.9% from £318,000.

Nationally, the most expensive postcode in England and Wales last year was W1K, or Mayfair, where the average price, based on 69 sales, was £4.22 million. That was up 15.8% from £3.65 million in the year to October 2020.

The least expensive postcode was DL17, between Darlington and Durham, where the average house price was £50,750, based on 316 sales. That was also up by 3.0% from £49,250 a year earlier.

Prices were growing fastest in SA36, in Pembrokeshire, where they have jumped 117.4% in a year from £97,500 to £212,000, although there were only four sales in each of the years.

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