As the heartbeat of the British economy, the housing market is highly sensitive to various factors, one of which is interest rates. Recently, the United Kingdom has experienced a series of interest rate hikes, leaving homeowners, potential buyers, and real estate professionals pondering the consequences. In this blog post, we delve into the effects of these interest rate increases on the local property market in East Molesey, Claygate, and Thames Ditton, three vibrant communities within the beautiful Elmbridge area.
Understanding Interest Rate Hikes: To grasp the implications of recent interest rate hikes, it is essential to comprehend why they occur. Interest rates are influenced by the monetary policy decisions made by the Bank of England (BoE) to control inflation and maintain economic stability. When the BoE raises interest rates, it becomes more expensive to borrow money, affecting mortgages, loans, and overall market dynamics.
The Impact on Local Property Prices: Interest rate hikes can have a direct impact on property prices in Elmbridge and its surrounding areas. As the cost of borrowing increases, potential buyers may face higher mortgage repayments, leading to a decrease in affordability. This could potentially slow down the demand for properties and, in turn, influence pricing levels. However, the impact may vary depending on factors such as local market conditions, supply and demand dynamics, and the overall desirability of the area.
Effects on Buyer Behavior: In a climate of rising interest rates, prospective buyers often reassess their purchasing decisions. Affordability concerns may cause some buyers to postpone or reconsider their property search, opting for more conservative choices. On the other hand, some individuals might perceive the rate hikes as a signal of a strengthening economy and view it as an opportune time to invest in property before prices potentially rise further.
Shifting Dynamics for Homeowners: Existing homeowners within the Elmbridge area may experience a change in their financial circumstances due to interest rate hikes. For those with variable-rate mortgages, the increase in rates will lead to higher monthly mortgage repayments. Consequently, homeowners might adopt a more cautious approach, focusing on budgeting and potentially reducing spending on other areas of their lives.
The Role of Supply and Demand: The local property market in East Molesey, Claygate, and Thames Ditton is driven by a delicate balance of supply and demand. Interest rate hikes can impact this equilibrium. If demand decreases due to higher borrowing costs, the number of potential buyers might decline. Conversely, a decrease in demand could motivate sellers to reevaluate their pricing strategies, leading to more competitive offers and potentially a more balanced market.
Conclusion:
The recent interest rate hikes in the UK have undoubtedly cast a ripple effect on the local property market in East Molesey, Claygate, and Thames Ditton. While there may be short-term adjustments in buyer behavior and property prices, it is essential to consider the broader economic context and long-term market stability. As trusted estate agents in Elmbridge, we remain dedicated to providing up-to-date insights and assisting our clients in navigating these changes effectively.
Remember, the impact of interest rate hikes on the local property market is a dynamic process, and monitoring the ongoing developments is crucial for both buyers and sellers. Stay informed, consult professionals, and make informed decisions to ensure your success in this evolving landscape.
For many homeowners waiting for the right time to move, it has been a difficult decision to make for the past few years. The property market in the UK has been subject to an onslaught of market slowing events with what feels like endless elections, the EU referendum, changes to stamp duty land tax, and then this year to top it all off, the world was pretty much shut down by a coronavirus pandemic from COVID-19.
As soon as the property market was put on pause, the headlines wrote themselves, and the media reported that the property market apocalypse was approaching… but it never arrived.
Then, as the property market opened again, we were warned about how tough it was going to be to sell our properties, so was this prediction right?
Let’s take a look at what the data tells us…
The below graph is taken from Rightmove data for the KT7, KT8 and KT10 postcodes which covers Thames Ditton, East and West Molesey, Hinchley Wood, Claygate and Esher (where Newton Huxley sell the most properties).
The local property market was showing very positive signs at the beginning of the year throughout January and into February, with the number of New Listings and Sales Agreed at healthy levels as you would expect to see. Then things began to turn in March as COVID-19 became the focus of everyone’s attention, and finally in April the market stopped almost entirely as viewings and mortgage applications were no longer possible.
In May, we can see the tide beginning to turn with urgent moves progressing and then in June we can finally begin to see what the property market looks like post lockdown… and so far it looks very good!
New property listings are quickly returning to pre-covid levels and as these properties attract the wave of new buyers from Central and South West London, we expect the number of sales agreed to catch up in July.
Our own internal data also shows positive signs for the local property market, with the number of offers received in June being at its highest level since October 2017.
This next graph shows the number of new buyers registering (people calling to ask us to help with their search for a property,) viewings booked, and the number of individual offers received on our listed properties.
Whilst it is too early to know for sure what the long-term impacts of COVID-19 will be on the property market, property transactions in the South East have been stunted since Stamp Duty Land Tax was changed in 2016 (by as much as 30% in our local area), and a bottleneck of buyers waiting for the right time to make their move has been building ever since.
Now interest rates are lower than ever before, and we’ve experienced a genuine public health issue that has had an impact on every single person one way or another. For many this has put things into perspective, and has served as a catalyst to further increase buyer migration out of Central and South West London, with some 51% of buyers that already live in the capital looking to move out.
With so many properties coming to market right now, and with lenders tightening criteria for mortgages, it is unlikely your property value will be shooting up any time soon. Many market reports are suggesting a 0% change in property values this year, and a modest 2% next year. So, if you have been waiting for the right time to move over the last few years like so many others in the KT7, KT8 and KT10 postcode areas, now is the closest you are going to get to the perfect time to finally get moving!
Agents are currently only permitted to carry out “virtual viewings” on vacant properties, and mortgage lenders are putting a temporary stop to new mortgage applications whilst restrictions prevent their surveyors from valuing properties with usual accuracy, given that they cannot physically visit the vast majority of properties at present.
The only ones that are still moving home, are those that are well progressed with their sale or purchase and are contractually bound to move. The same more or less applies to those renting as well, with virtual viewings applicable to vacant properties only, and only those that absolutely have to move are able to do so.
Prior to the outbreak of COVID-19, the property market was doing extremely well, and there was already strong evidence that the so called Boris Bounce was having a positive impact on the property market.
Our own data showed a 14% increase in the number of property viewings immediately following the election, and an overall increase of 32% when compared with the same period in 2019. This was also evident in the most recent property transactions for 2020, showing an increase in the average price paid for a property in Thames DItton, Esher, Claygate, Hinchley Wood and Molesey of £25,000.
Right now, we should be experiencing one of the busiest seasons for the property market, commonly known as the Spring Market, but restrictions are preventing people from bringing their property to market, causing a back log of people that were planning to move at this time.
Can you think of another recent event that was talked about in the news every day that may have also had a bottleneck effect, and created a back log of people that were waiting for more certainty before putting their property on the market…?
The EU referendum in the UK along with amendments to how stamp duty land tax is calculated, reduced transactions in Molesey, Esher, Thames Ditton, Claygate and Hinchley Wood by around 30% and as a result, 2020 was expected to be a busy year for the UK Property market with pent up demand reaching critical mass.
We now have one bottle neck on top of another bottle neck, and if the data tracking property transactions in South Korea and China is anything to go buy, we can expect transaction levels and the health of the property market to snap back at an exceptional pace.
With the UK’s own specific set of circumstances leading up to this point, we are expecting a wave of new properties coming to market in the second half of 2020.
If you are one of those people that are planning to sell your property once life begins to return to normality, is there anything that you can do to beat the crowd?
You may or may not already know that you can instruct a solicitor before you find a buyer. Our panel of solicitors work just like our estate agents do, on a No Sale, No Fee basis.
Why does this matter? The initial process of setting up the sale of your home with a solicitor takes anywhere from 2-3 weeks. Most people wait until they have a buyer to begin this process, but if everyone is trying to do this at the same time, it will likely take longer than usual for the initial steps to be completed.
If you are serious about moving, why not put yourself in a position where you are up to 3 weeks further ahead than other properties that launch to market? There’s no catch, and you don’t even have to use Newton Huxley Estate Agents to sell your property to get access to this service. However, if you decide to take advantage of our award winning estate agency services, your solicitor fee payable upon the completed sale of your home will be absorbed into the commission we charge, saving you an average of at least £1000.00
For more information please contact our team on 01372 631 622 or email info@newtonhuxley.co.uk
If I had £1 for everytime someone asked me "what is the property market like at the moment?" I could pay off the mortgage for every friend and family member in the contact list on my phone!
The nature of the private housing market in Britain means that it is always changing and evolving, and the value of your property can change from month to month, and so called uncertainty surrounding UK politics has left many people unsure as to how this has affected the value of their home.
With the Pound (£) offering very good value for money against the Euro and US dollar, foreign purchases in Central London are reportedly on the up again, and as Molesey was more or less built for commuters, this has a knock on affect within our local market as many buyers who move to Molesey, do so after selling a property in London in search of more square footage, garden space and good schools whilst retaining the ability to get to work in London with relative ease.
So what does the property market look like now compared to this time last year? 2018 was our busiest year yet at Newton Huxley, and here is why we are confident that 2019 will be the same, if not better.
Now this does not mean that asking prices are down by nearly 20%! We have noticed more properties coming to market below the £500k threshold which shows more confidence from those looking to upsize from their first purchase. We also published an article last year explaining that over inflated asking prices were causing a slow down in the market (as commented on by The Times in their recent article about overvaluing) and that the eventual sale prices of properties had remained more or less the same, this shows that home sellers are adjusting their asking prices to be more in line with buyer expectations which will increase movement.
The number of new properties coming to market has been in decline for the past 2-3 years. In terms of real numbers, the difference is 73 new properties in 2018 vs 65 in 2019 and although this will help speed up a potential buyers decision making with slightly less choice to consider, we do not see this having any significant affect on pricing at this level.
This is ultimately a result of the above two market factors, with less choice and more affordable properties on offer, activity will naturally increase. We have also noticed increased interest in properties that have previously been struggling to achieve a sale, showing further increased movement within Central and SW London is having a positive impact.
For practical purposes there is no real change here, this does however mean that a higher percentage of buyers that are out viewing, are making offers. It is more important than ever to ensure that the number of feet through the door from potential buyers remains high as this will dramatically increase your chances of securing a buyer and will help create a sense of urgency that will help you achieve the best possible price. In essence you should price your property to entice viewings and leverage negotiation against other interest as opposed to just stating what you want for your property as a seller, as this carries a lot more weight!
If you are thinking of selling and would like an idea on the current value of your home, you can use our FREE instant valuation tool below for an instant estimation. Additionally, if you have been on the market without success and would like to discuss other available strategies for selling your property, please call our Molesey team on 0208 396 6717 or email molesey@newtonhuxley.co.uk
Once again we have been trawling the land registry to gain further insight into the Molesey housing market. For many it has been a year of uncertainty and we are delighted to deliver some clarity to value and transaction trends in the Molesey area.
Hopefully you find the below statistics interesting, but if you would like to obtain an instant valuation of your own property, you can do so by clicking here:
At the time of publishing this article the last full month of completed transactions submitted by the land registry was September 2018.
Out of those 658 listings in Molesey (KT8 postcode), 49% reduced their asking price, and 43% of the total listings agreed a sale.
The number of completed transactions on record has remained in line with predictions at the begining of the year:
The average price paid has remained strong due to a lack of supply to the Molesey market, and a continued influx of buyers moving out of central and SW London.
Terraced properties have the highest transaction rate in terms of property type, which is consistent with expectations given the number of terraced homes in Molesey.
We have also calculated the transaction rate for the top 10 roads in Molesey. This is calculated as a percentage of the total properties on the road, as opposed to the total number.
If you are looking for more space and would like to upsize and sell your current property. Now is the perfect time to do so.
Could this mean that transaction levels are being unneccesarily supressed by an uncompetitive increase in asking prices in Molesey when compared to neighbouring towns?
Below is specific data collected from Land Registry archives, showing the average price paid, and the number of completed transactions for semi detached, and terraced properties in the KT8 postcode area. Each graph includes data between 1st January and 23rd October for each year so that we are able to compare to the current market with greater accuracy.
TOTAL TRANSACTIONS IN MOLESEY 2016, 17, 18 – 1st January – 23rd October.
AVERAGE PRICE PAID (£) FOR A SEMI DETACHED OR TERRACED PROPERTY IN MOLESEY
2016,17,18 – 1st January – 23rd October.
From a transactional point of view, we have seen a sharp decrease in the amount of completed transactions compared to last year, yet prices have increased by just over £3500. This is expected with a reduced supply so nothing particularly unusual there.
By reading headlines in the media, you would be lead to believe the property market is in a terrible state, and Mark Carney, Governor of the Bank of England has claimed a potential value drop of up to 35%! We of course completely disagree with this estimation. To try and bring things back to reality we have compared this data with the period before and after the GLOBAL recession in 2008.
TOTAL TRANSACTIONS IN MOLESEY 2007, 8, 9 – 1st January – 23rd October.
AVERAGE PRICE PAID (£) FOR A SEMI DETACHED OR TERRACED PROPERTY IN MOLESEY
2007,8,9 – 1st January – 23rd October.
Aside from the fact that property values in Molesey have on average increased by 48% since 2009, we can see that already, transaction levels are lower right now than they were in 2008/09. Average prices for semi detached and terraced properties in Molesey decreased by 22% (approx. £84,000), given the banks were in crisis mode and the whole world was experiencing a financial meltdown, this is not difficult to understand.
This is just our own opinion, but we cannot find any reasonable prediction that would conclude the value of property in the UK will be worse affected due to Brexit. The cost of borrowing is still at an exceptionally low level, so the demand is there but the affordabilty has hit its current ceiling, especially with the change in stamp duty bandings that has slowed movement at the upper end of the market.
Surrey's property market and consistently high performance in terms of transactions and value, is largely due to the ever increasing migration from buyers moving out of South West London. Whenever we are looking for insight into the local market in Molesey, we look at what is happening in driver towns in SW. For this example, we have used Clapham (SW4) as a comparable, to show how it stacks up against local areas, with Molesey of course being our main focus.
If you live in either Esher, Claygate or Hinchley Wood, you may be interested in average property values. If you are looking to buy in the area, you may be interested to know the average value of a property in your favoured roads. We have it covered with our comprehensive list of average property values, increase over the last 5 years, and the number of completed transactions over the last 12 months.
Given there are nearly 300 roads accross the KT10 postcode area, we have listed each road in alphabetical order, with a top 25 list for price increase, and a top 25 list for number of completed transactions.
Road Name |
Price Change 5 years (+) |
Current Average Value £ |
Number of transactions last 12 months |
Acorns Way | 590,488.00 | 2,708,049.00 | 0 |
Albany Close | 522,427.00 | 2,395,900.00 | 1 |
Albany Crescent | 160,764.00 | 737,201.00 | 0 |
Alma Road | 111,761.00 | 512,452.00 | 1 |
Applegarth | 194,498.00 | 891,925.00 | 1 |
Arbrook Chase | 524,196.00 | 2,404,007.00 | 0 |
Arbrook Lane | 303,358.00 | 1,391,204.00 | 0 |
Arran Way | 100,004.00 | 458,539.00 | 0 |
Ashburnham Park | 532,347.00 | 2,389,218.00 | 0 |
Ashton Place | 135,507.00 | 621,357.00 | 0 |
Aston Road | 105,648.00 | 484,421.00 | 0 |
Avondale Avenue | 189,220.00 | 867,697.00 | 4 |
Beaconsfield Gardens | 387,365.00 | 1,776,462.00 | 0 |
Belvedere Close | 80,813.00 | 370,531.00 | 0 |
Berkeley Gardens | 282,944.00 | 1,297,568.00 | 0 |
Blackhills | 911,204.00 | 4,178,955.00 | 1 |
Blair Avenue | 98,327.00 | 450,840.00 | 1 |
Blakeden Drive | 98,327.00 | 450,840.00 | 1 |
Bracondale | 360,545.00 | 1,653,465.00 | 0 |
Brendon Close | 270,073.00 | 1,238,528.00 | 1 |
Brendon Drive | 290,118.00 | 1,330,454.00 | 0 |
Bridle Road | 174,801.00 | 801,572.00 | 0 |
Brisson Close | 203,965.00 | 935,330.00 | 0 |
Brookfield Gardens | 102,794.00 | 471,338.00 | 0 |
Broom Close | 516,905.00 | 2,373,208.00 | 1 |
Burns Terrace | 230,708.00 | 1,057,992.00 | 0 |
Caerleon Close | 260,637.00 | 1,195,252.00 | 0 |
Carleton Close | 202,486.00 | 928,546.00 | 0 |
Carrick Gate | 293,371.00 | 1,345,374.00 | 0 |
Carrington Place, Esher Park Ave | 286,975.00 | 1,315,208.00 | 1 |
Cavendish Drive | 186,290.00 | 854,265.00 | 1 |
Cedar Close | 284,021.00 | 1,302,495.00 | 0 |
Cedar Walk | 353,869.00 | 1,622,832.00 | 0 |
Chadworth Way | 239,942.00 | 1,100,337.00 | 1 |
Charlotte Court | 427,591.00 | 1,960,944.00 | 0 |
Charlotte Mews | 88,100.00 | 403,932.00 | 0 |
Chesterfield Drive | 219,573.00 | 1,006,927.00 | 0 |
Chestnut Avenue | 226,319.00 | 1,037,857.00 | 3 |
Church Road | 142,497.00 | 653,428.00 | 0 |
Church Street | 107,713.00 | 493,909.00 | 0 |
Clare Hill | 831,726.00 | 3,814,436.00 | 1 |
Claremont Avenue | 263,740.00 | 1,209,474.00 | 0 |
Claremont Drive | 637,611.00 | 2,924,477.00 | 1 |
Claremont End | 520,354.00 | 2,386,372.00 | 0 |
Claremont Lane | 350,740.00 | 1,608,489.00 | 0 |
Claremont Park Road | 986,560.00 | 4,524,574.00 | 0 |
Claremont Road | 333,072.00 | 1,527,452.00 | 0 |
Claygate Lane | 215,813.00 | 989,667.00 | 1 |
Claygate Lodge Close | 230,708.00 | 1,057,992.00 | 1 |
Clive Road | 415,689.00 | 1,906,358.00 | 1 |
Common Lane | 372,830.00 | 1,709,801.00 | 0 |
Common Road | 139,868.00 | 641,370.00 | 3 |
Compton Close | 230,708.00 | 1,057,992.00 | 0 |
Copsem Lane | 202,892.00 | 930,407.00 | 3 |
Copsem Way | 509,949.00 | 2,338,662.00 | 0 |
Cornwall Avenue | 217,939.00 | 999,432.00 | 0 |
Cotswold Close | 226,419.00 | 1,038,302.00 | 1 |
Couchmore Avenue | 196,564.00 | 901,387.00 | 1 |
Courtlands Avenue | 356,473.00 | 1,634,792.00 | 1 |
Coverts Road | 118,415.00 | 542,969.00 | 7 |
Cranbrook Drive | 157,686.00 | 723,088.00 | 1 |
Cranford Rise | 646,792.00 | 2,966,266.00 | 0 |
Cranleigh Road | 256,157.00 | 1,174,705.00 | 1 |
Crediton Way | 153,890.00 | 705,678.00 | 1 |
Cumberland Drive | 248,507.00 | 1,140,898.00 | 0 |
D'abernon Close | 345,752.00 | 1,585,620.00 | 1 |
Dalmore Avenue | 188,779.00 | 865,682.00 | 0 |
Denman Drive | 164,825.00 | 755,836.00 | 0 |
Derwent Close | 226,913.00 | 1,040,582.00 | 0 |
Dorchester Close | 254,080.00 | 1,165,191.00 | 2 |
Douglas Road | 91,933.00 | 421,518.00 | 3 |
Drakes Close | 336,878.00 | 1,544,930.00 | 0 |
Eastmont Road | 171,244.00 | 785,264.00 | 1 |
Elm Gardens | 192,136.00 | 881,085.00 | 1 |
Elm Road | 136,384.00 | 625,376.00 | 0 |
Elm Tree Avenue | 246,232.00 | 1,129,179.00 | 0 |
Ember Lane | 260,299.00 | 1,193,691.00 | 4 |
Esher Green | 217,898.00 | 999,231.00 | 0 |
Esher Park Avenue | 441,384.00 | 2,024,205.00 | 3 |
Esher Place Avenue | 423,271.00 | 1,941,129.00 | 0 |
Fairlawn Close | 227,495.00 | 1,043,254.00 | 0 |
Fairway Close | 218,635.00 | 1,002,625.00 | 0 |
Farm Road | 67,841.00 | 311,026.00 | 3 |
Fawcus Close | 230,708.00 | 1,057,992.00 | 0 |
Fee Farm Road | 337,733.00 | 1,548,834.00 | 0 |
Fir Tree Close | 477,102.00 | 2,188,022.00 | 0 |
Firs Close | 57,601.00 | 264,055.00 | 0 |
Fishersdene | 182,439.00 | 836,598.00 | 0 |
Fitzalan Road | 336,163.00 | 1,541,646.00 | 0 |
Foley Mews | 118,331.00 | 542,581.00 | 2 |
Foley Road | 251,075.00 | 1,151,395.00 | 2 |
Foley Wood | 260,631.00 | 1,195,220.00 | 0 |
Forge Drive | 174,749.00 | 784,203.00 | 1 |
Foxwarren | 91,506.00 | 419,564.00 | 4 |
Gainsborough Close | 175,649.00 | 806,335.00 | 0 |
Garden Villas | 230,708.00 | 1,057,992.00 | 0 |
Garson Close | 230,708.00 | 1,057,992.00 | 0 |
Garson Road | 116,618.00 | 534,739.00 | 0 |
Glebelands | 90,478.00 | 414,841.00 | 0 |
Glenavon Close | 137,854.00 | 632,119.00 | 0 |
Gordon Road | 267,076.00 | 1,224,792.00 | 0 |
Grantley Place | 392,914.00 | 1,801,914.00 | 0 |
Green Mead | 225,283.00 | 1,033,120.00 | 0 |
Greenways | 193,185.00 | 885,896.00 | 4 |
Grove End Lane | 223,870.00 | 1,026,636.00 | 0 |
Grove Way | 257,922.00 | 1,182,790.00 | 5 |
Hampton Court Way | 230,708.00 | 1,057,992.00 | 0 |
Hare Lane | 197,435.00 | 905,397.00 | 3 |
Harefield | 169,888.00 | 779,050.00 | 2 |
Haven Close | 185,159.00 | 849,079.00 | 0 |
Haven Court | 105,506.00 | 483,758.00 | 0 |
Haven Place | 256,780.00 | 1,177,556.00 | 0 |
Hawkshill Close | 381,887.00 | 1,751,327.00 | 2 |
Hawkshill Place | 416,738.00 | 1,911,181.00 | 0 |
Hawkshill Way | 332,341.00 | 1,524,103.00 | 1 |
Heatherset Close | 354,527.00 | 1,591,116.00 | 0 |
Heathside | 182,803.00 | 838,225.00 | 2 |
Heathside Close | 192,518.00 | 882,824.00 | 0 |
Heathside | 182,803.00 | 838,255.00 | 2 |
Heckets Court | 816,556.00 | 3,744,861.00 | 0 |
Hengest Avenue | 150,910.00 | 692,018.00 | 1 |
Hermitage Close | 201,157.00 | 922,456.00 | 1 |
High Foleys | 359,361.00 | 1,648,013.00 | 1 |
High Garth | 405,017.00 | 1,857,424.00 | 0 |
High Street (Claygate) | 115,773.00 | 530,857.00 | 1 |
High Street (Esher) | 137,457.00 | 630,298.00 | 0 |
Hill Rise | 164,074.00 | 752,378.00 | 1 |
Hillbrow Road | 175,290.00 | 803,833.00 | 1 |
Hillcrest Gardens | 212,213.00 | 973,163.00 | 1 |
Hillmont Road | 166,309.00 | 762,615.00 | 1 |
Hillside | 179,953.00 | 825,203.00 | 0 |
Hillview Road | 390,517.00 | 1,790,915.00 | 1 |
Hinchley Close | 217,957.00 | 999,520.00 | 0 |
Hinchley Drive | 200,728.00 | 920,494.00 | 0 |
Hinchley Way | 183,525.00 | 841,605.00 | 0 |
Holroyd Road | 77,365.00 | 354,717.00 | 2 |
Home Farm Close | 376,804.00 | 1,728,035.00 | 1 |
Homestead Gardens | 221,362.00 | 1,015,118.00 | 0 |
Houston Place | 233,797.00 | 1,072,144.00 | 0 |
Howitts Close | 383,862.00 | 1,760,387.00 | 0 |
Hunting Close | 356,930.00 | 1,636,871.00 | 1 |
Hurstbourne | 230,708.00 | 1,057,992.00 | ? |
Imber Close | 97,039.00 | 444,935.00 | 0 |
Imber Grove | 188,673.00 | 865,199.00 | 3 |
Imber Park Road | 273,963.00 | 1,256,371.00 | 0 |
Joseph Locke Way | 230,708.00 | 1,057,992.00 | 0 |
Jubilee Villas, Weston Green | 140,124.00 | 642,538.00 | 1 |
Judge Walk | 245,666.00 | 1,126,570.00 | 0 |
Kilnside | 150,559.00 | 690,391.00 | 1 |
King Georges Walk | 57,809.00 | 265,003.00 | 0 |
Kings Mead Park | 283,096.00 | 1,298,252.00 | 0 |
Lakeside Drive | 436,097.00 | 1,999,951.00 | 0 |
Lane Gardens | 228,982.00 | 1,050,068.00 | 0 |
Langbourne Way | 149,176.00 | 684,045.00 | 0 |
Latton Close | 358,279.00 | 1,643,051.00 | 0 |
Lammas Lane | 270,729.00 | 1,241,546.00 | 0 |
Lime Tree Avenue | 203,902.00 | 935,047.00 | 0 |
Little Orchard Place | 236,395.00 | 1,084,066.00 | 0 |
Littlemead | 484,012.00 | 2,219,714.00 | 0 |
Littleworth Avenue | 494,008.00 | 2,265,560.00 | 1 |
Littleworth Common Road | 640,818.00 | 2,938,869.00 | 0 |
Littleworth Lane | 686,777.00 | 3,149,653.00 | 0 |
Littleworth Place | 230,708.00 | 1,057,992.00 | 0 |
Littleworth Road | 407,087.00 | 1,866,908.00 | 1 |
Loseberry Road | 182,965.00 | 839,032.00 | 0 |
Lower Green Road | 157,918.00 | 724,149.00 | 3 |
Lower Wood Road | 168,191.00 | 771,250.00 | 2 |
Lynne Walk | 352,661.00 | 1,617,286.00 | 0 |
Macaulay Avenue | 136,119.00 | 624,173.00 | 0 |
Manor Drive | 191,396.00 | 877,682.00 | 1 |
Manor Road North | 230,708.00 | 1,057,992.00 | 12 |
Manor Road South | 233,455.00 | 1,070,587.00 | 16 |
Martineau Close | 442,040.00 | 2,027,223.00 | 0 |
Meadow Close | 196,719.00 | 902,110.00 | 0 |
Meadow Road | 205,888.00 | 944,149.00 | 0 |
Meadway | 698,540.00 | 3,203,618.00 | 1 |
Medina Avenue | 163,701.00 | 750,671.00 | 1 |
Melbury Close | 176,245.00 | 808,208.00 | 0 |
Merrilyn Close | 217,816.00 | 998,836.00 | 0 |
Milbourne Lane | 237,227.00 | 1,087,856.00 | 4 |
Milbrook | 369,111.00 | 1,692,745.00 | 0 |
Mill Road | 65,251.00 | 299,153.00 | 1 |
Montgomery Avenue | 184,396.00 | 845,572.00 | 0 |
More Lane | 224,147.00 | 1,027,893.00 | 1 |
Mountview Road | 459,089.00 | 2,060,435.00 | 0 |
Neville Close | 354,776.00 | 1,627,005.00 | 0 |
New Road | 389,106.00 | 1,784,458.00 | 1 |
Nightingale Road | 231,744.00 | 1,062,747.00 | 0 |
Norfolk Road | 113,473.00 | 520,303.00 | 0 |
Oak Tree Place | 162,616.00 | 745,711.00 | 0 |
Oaken Drive | 197,647.00 | 906,364.00 | 1 |
Oaken Lane | 202,777.00 | 929,884.00 | 1 |
Oakhill | 199,715.00 | 915,843.00 | 0 |
Oaklands Avenue | 275,378.00 | 1,262,851.00 | 0 |
Old Claygate Lane | 153,678.00 | 704,712.00 | 1 |
Orchard Gate | 408,366.00 | 1,872,772.00 | 0 |
Orchard Way | 483,045.00 | 2,215,279.00 | 0 |
Orleans Close | 154,170.00 | 706,945.00 | 0 |
Park Close | 393,125.00 | 1,802,884.00 | 1 |
Park Road | 128,877.00 | 590,963.00 | 1 |
Park Square | 101,903.00 | 467,246.00 | 0 |
Parkwood Avenue | 261,896.00 | 1,202,021.00 | 1 |
Pelhams Close | 253,612.00 | 1,163,038.00 | 0 |
Pelhams Walk | 354,694.00 | 1,626,612.00 | 1 |
Pemberton Place | 238,565.00 | 1,094,030.00 | 0 |
Poplar Road | 83,545.00 | 383,080.00 | 1 |
Portsmouth Road | 178,011.00 | 816,309.00 | 2 |
Pound Farm Close | 306,251.00 | 1,404,451.00 | 0 |
Princess Square | 353,639.00 | 1,621,782.00 | 0 |
Queen Anne Drive | 261,434.00 | 1,200,226.00 | 0 |
Queens Close | 126,759.00 | 581,230.00 | 0 |
Raleigh Drive | 266,767.00 | 1,223,366.00 | 0 |
Raymond Way | 167,725.00 | 769,129.00 | 0 |
Red Lane | 264,389.00 | 1,212,448.00 | 3 |
Redruth Gardens | 351,264.00 | 1,610,891.00 | 0 |
Riverside Drive | 301,789.00 | 1,383,965.00 | 0 |
Rosebriars | 882,338.00 | 4,046,564.00 | 0 |
Rosehill | 182,135.00 | 835,228.00 | 0 |
Ruxley Crescent | 345,484.00 | 1,584,374.00 | 2 |
Ruxley Ridge | 250,142.00 | 1,147,104.00 | 0 |
Ruxley Towers | 315,588.00 | 1,447,272.00 | 0 |
Rythe Close | 166,854.00 | 765,133.00 | 1 |
Rythe Road | 172,353.00 | 790,343.00 | 1 |
Sandon Close | 257,877.00 | 1,182,578.00 | 1 |
Sandown Avenue | 817,143.00 | 3,747,556.00 | 1 |
Sandown Gate | 184,906.00 | 847,932.00 | 0 |
Sandown Road | 592,517.00 | 2,717,362.00 | 0 |
Severn Drive | 177,210.00 | 812,616.00 | 3 |
Sherriff Close | 73,838.00 | 338,535.00 | 4 |
Simmil Road | 150,904.00 | 691,974.00 | 2 |
Simmons Gate | 424,165.00 | 1,945,249.00 | 0 |
Southwood Gardens | 215,852.00 | 989,852.00 | 1 |
Spinney Gardens | 295,295.00 | 1,354,181.00 | 0 |
St Georges Place | 651,531.00 | 2,988,004.00 | 1 |
St Leonards Road | 237,318.00 | 1,088,314.00 | 2 |
Station Approach | 72,493.00 | 332,351.00 | 2 |
Station Road (Claygate) | 123,894.00 | 568,085.00 | 4 |
Station Road (Esher) | 193,662.00 | 888,078.00 | 1 |
Station Way | 98,196.00 | 450,238.00 | 0 |
Stevens Lane | 256,651.00 | 1,176,978.00 | 2 |
Stockfield Road | 203,781.00 | 934,490.00 | 0 |
Sydney Terrace | 156,973.00 | 719,817.00 | 0 |
Telegraph Lane | 145,124.00 | 665,473.00 | 3 |
Tellisford | 268,681.00 | 1,232,155.00 | 0 |
The Avenue | 264,408.00 | 1,212,549.00 | 1 |
The Causeway | 241,841.00 | 1,109,027.00 | 0 |
The Drive | 266,032.00 | 1,219,984.00 | 2 |
The Elms | 85,498.00 | 391,999.00 | 0 |
The Furlongs | 140,454.00 | 644,052.00 | 0 |
The Gallops | 170,892.00 | 783,651.00 | 2 |
The Gardens | 567,414.00 | 2,602,216.00 | 1 |
The Green | 110,806.00 | 508,072.00 | 0 |
The Maples | 302,454.00 | 1,387,046.00 | 0 |
The Mews, Albany Crescent | 231,186.00 | 1,060,182.00 | 0 |
The Mount | 614,383.00 | 2,817,631.00 | 0 |
The Parade | 77,415.00 | 354,933.00 | 0 |
The Roundway | 106,506.00 | 488,336.00 | 0 |
The Rythe, Copsem Lane | 269,396.00 | 1,235,416.00 | 0 |
The Willows, Albany Crescent | 90,357.00 | 414,280.00 | 1 |
The Woodlands | 204,027.00 | 915,610.00 | 1 |
Thomas More Gardens | 306,842.00 | 1,407,169.00 | 0 |
Thorne Close | 178,531.00 | 818,687.00 | 3 |
Torrington Close | 258,884.00 | 1,187,196.00 | 0 |
Torrington Road | 200,337.00 | 918,703.00 | 1 |
Tower Gardens | 245,319.00 | 1,124,986.00 | 1 |
Trystings Close | 230,470.00 | 1,056,893.00 | 0 |
Vale Croft | 249,044.00 | 1,142,082.00 | 0 |
Vale Road | 150,692.00 | 691,009.00 | 1 |
Vincent Close | 363,711.00 | 1,667,988.00 | 0 |
Warren Close | 257,132.00 | 1,179,171.00 | 0 |
Wayneflete Tower Avenue | 365,688.00 | 1,677,035.00 | 0 |
West Acres | 349,941.00 | 1,570,529.00 | 0 |
West End Gardens | 221,566.00 | 1,016,055.00 | 1 |
West End Lane | 173,944.00 | 797,635.00 | 2 |
Westbury Avenue | 234,569.00 | 1,075,680.00 | 0 |
Westmont Road | 172,226.00 | 789,769.00 | 0 |
Weston Green Road | 231,186.00 | 1,060,182.00 | 0 |
Westwood Close | 292,583.00 | 1,341,769.00 | 0 |
Willowmere | 365,400.00 | 1,675,724.00 | 0 |
Winchester Close | 323,273.00 | 1,482,520.00 | 1 |
Winterdown Gardens | 164,300.00 | 753,413.00 | 0 |
Winterdown Road | 188,104.00 | 862,573.00 | 2 |
Wolsey Grove | 94,384.00 | 432,486.00 | 1 |
Wolsey Road | 188,220.00 | 863,127.00 | 1 |
Woodbourne Drive | 193,866.00 | 889,026.00 | 0 |
Woodend | 166,976.00 | 749,318.00 | 0 |
Woodlands Close | 208,931.00 | 958,115.00 | 0 |
Woodside Avenue | 238,266.00 | 1,092,643.00 | 1 |
Woodstock Lane South | 231,186.00 | 1,060,182.00 | 0 |
Woodward Close | 231,186.00 | 1,060,182.00 | 0 |
Wootton Place | 738,251.00 | 3,385,740.00 | 0 |
Road Name |
Price Change 5 years (+) |
Current Average Value £ |
Number of transactinos last 12 months |
Claremont Park Road | 986,560.00 | 4,524,574.00 | 0 |
Blackhills | 911,204.00 | 4,178,955.00 | 1 |
Rosebriars | 882,338.00 | 4,046,564.00 | 0 |
Clare Hill | 831,726.00 | 3,814,436.00 | 1 |
Sandown Avenue | 817,143.00 | 3,747,556.00 | 1 |
Heckets Court | 816,556.00 | 3,744,861.00 | 0 |
Wootton Place | 738,251.00 | 3,385,740.00 | 0 |
Meadway | 698,540.00 | 3,203,618.00 | 1 |
Littleworth Lane | 686,777.00 | 3,149,653.00 | 0 |
St Georges Place | 651,531.00 | 2,988,004.00 | 1 |
Cranford Rise | 646,792.00 | 2,966,266.00 | 0 |
Littleworth Common Road | 640,818.00 | 2,938,869.00 | 0 |
Claremont Drive | 637,611.00 | 2,924,477.00 | 1 |
The Mount | 614,383.00 | 2,817,631.00 | 0 |
Sandown Road | 592,517.00 | 2,717,362.00 | 0 |
Acorns Way | 590,488.00 | 2,708,049.00 | 0 |
The Gardens | 567,414.00 | 2,602,216.00 | 1 |
Ashburnham Park | 532,347.00 | 2,389,218.00 | 0 |
Arbrook Chase | 524,196.00 | 2,404,007.00 | 0 |
Albany Close | 522,427.00 | 2,395,900.00 | 1 |
Claremont End | 520,354.00 | 2,386,372.00 | 0 |
Broom Close | 516,905.00 | 2,373,208.00 | 1 |
Copsem Way | 509,949.00 | 2,338,662.00 | 0 |
Littleworth Avenue | 494,008.00 | 2,265,560.00 | 1 |
Littlemead | 484,012.00 | 2,219,714.00 | 0 |
Road Name |
Price Change 5 years (+) |
Current Average Value £ |
Number of transactions last 12 months |
Manor Road South | 233,455.00 | 1,070,587.00 | 16 |
Manor Road North | 230,708.00 | 1,057,992.00 | 12 |
Coverts Road | 118,415.00 | 542,969.00 | 7 |
Grove Way | 257,922.00 | 1,182,790.00 | 5 |
Ember Lane | 260,299.00 | 1,193,691.00 | 4 |
Milbourne Lane | 237,227.00 | 1,087,856.00 | 4 |
Greenways | 193,185.00 | 885,896.00 | 4 |
Avondale Avenue | 189,220.00 | 867,697.00 | 4 |
Station Road (Claygate) | 123,894.00 | 568,085.00 | 4 |
Foxwarren | 91,506.00 | 419,564.00 | 4 |
Sherriff Close | 73,838.00 | 338,535.00 | 4 |
Esher Park Avenue | 441,384.00 | 2,024,205.00 | 3 |
Red Lane | 264,389.00 | 1,212,448.00 | 3 |
Chestnut Avenue | 226,319.00 | 1,037,857.00 | 3 |
Copsem Lane | 202,892.00 | 930,407.00 | 3 |
Hare Lane | 197,435.00 | 905,397.00 | 3 |
Imber Grove | 188,673.00 | 865,199.00 | 3 |
Thorne Close | 178,531.00 | 818,687.00 | 3 |
Severn Drive | 177,210.00 | 812,616.00 | 3 |
Lower Green Road | 157,918.00 | 724,149.00 | 3 |
Telegraph Lane | 145,124.00 | 665,473.00 | 3 |
Common Road | 139,868.00 | 641,370.00 | 3 |
Douglas Road | 91,933.00 | 421,518.00 | 3 |
Farm Road | 67,841.00 | 311,026.00 | 3 |
Hawkshill Close | 381,887.00 | 1,751,327.00 |
2 |
Most will already know that the KT10 postcode is home to some of the highest property values outside of London, mainly driven by demand from buyers moving out of London to Surrey for more outdoor space, excellent schools and a greater sense of community. Esher, Claygate and Hinchley Wood tick all of those boxes, so it is no surprise that those that move to the area, tend to stay here, and those moving out of London gravitate towards these locations.
If you're a homeowner in Molesey, you'll be interested in the current value of your home. If you're looking to up or down size, and plan to stay local, you'll be interested in the current value of property on some of your favourite streets!
The list below shows the increase in value over the last 5 years, as well as the number of transactions over the last 12 months to give you an idea of how often property becomes available to buy in any given road.
If you would like an instant valuation of your own home, this handy instant valuation tool is completely free and will give you an immediate indication as to your properties current value
Road Name |
Price Change 5 years (+) |
Current Average Value £ |
Number of sales last 12 months |
Rivermead | 555,316.00 | 1,125,994.00 | 1 |
Harrow Gardens | 440,740.00 | 1,943,811.00 | 0 |
Spencer Road | 436,911.00 | 1,926,926.00 | 1 |
Arnison Road | 405,761.00 | 1,789,542.00 | 0 |
Wolsey Road | 384,894.00 | 1,697,498.00 | 2 |
Church Road | 375,389.00 | 1,655,595.00 | 0 |
Palace Road | 351,571.00 | 1,550,545.00 | 4 |
Hansler Grove | 347,510.00 | 1,532,631.00 | 1 |
Vine Road | 332,602.00 | 1,466,880.00 | 0 |
The Wilderness | 323,089.00 | 1,424,912.00 | 0 |
The Riverside | 322,168.00 | 1,420,846.00 | 1 |
St Johns Road | 312,721.00 | 1,379,196.00 | 0 |
Kent Road | 308,844.00 | 1,362,082.00 | 2 |
Beauchamp Road, KT8 0PA | 296,920.00 | 1,309,496.00 | 0 |
Matham Road | 293,915.00 | 1,296,232.00 | 1 |
Seymour Road | 276,458.00 | 1,219,254.00 | 1 |
Hampton Court Crescent | 251,841.00 | 1,110,679.00 | 0 |
Manor Road | 248,149.00 | 1,094,385.00 | 2 |
Hurst Road | 244,939.00 | 1,080,230.00 | 8 |
Hampton Court Road | 243,871.00 | 1,075,515.00 | 6 |
Ember Lane | 239,680.00 | 1,057,032.00 | 0 |
Molember Road | 234,291.00 | 1,033,254.00 | 0 |
Grove Road | 224,022.00 | 987,973.00 | 0 |
Ember Farm Avenue | 221,899.00 | 978,610.00 | 0 |
Broadfields | 219,460.00 | 967,833.00 | 1 |
Clinton Avenue | 217,167.00 | 957,727.00 | 1 |
Ember Farm Way | 206,667.00 | 911,403.00 | 1 |
Southfields | 205,744.00 | 907,347.00 | 1 |
Parsons Mead | 202,956.00 | 895,043.00 | 1 |
Hidden Close | 201,747.00 | 889,710.00 | 0 |
Park Road | 201,725.00 | 889,626.00 | 3 |
St Marys Road | 197,236.00 | 869,825.00 | 1 |
Field Close | 196,826.00 | 868,015.00 | 1 |
Molesey Park Close | 195,095.00 | 860,385.00 | 0 |
River Bank | 194,206.00 | 856,467.00 | 1 |
Feltham Avenue | 193,227.00 | 852,146.00 | 4 |
Molesey Park Road | 193,077.00 | 851,498.00 | 1 |
Riverside Avenue | 193,075.00 | 851,475.00 | 0 |
Summer Avenue | 192,479.00 | 848,848.00 | 0 |
Gladstone Place | 191,339.00 | 843,799.00 | 0 |
Summer Gardens | 190,978.00 | 842,218.00 | 0 |
Cedar Close | 179,814.00 | 792,979.00 | 0 |
Esher Road | 178,588.00 | 787,583.00 | 5 |
Cedar Road | 178,295.00 | 786,278.00 | 0 |
Orchard Lane | 176,235.00 | 777,199.00 | 0 |
Bridge Gardens | 171,336.00 | 755,588.00 | 0 |
Summer Road | 167,554.00 | 738,909.00 | 3 |
Cherry Orchard Gardens | 164,513.00 | 725,496.00 | 2 |
Knights Close | 162,046.00 | 714,615.00 | 0 |
Mole Abbey Gardens | 158,695.00 | 699,826.00 | 1 |
Hampton Court Avenue | 154,042.00 | 679,314.00 | 1 |
Nightingale Road | 150,204.00 | 662,380.00 | 0 |
Hollingworth Close | 148,171.00 | 653,415.00 | 1 |
Langton Road | 147,817.00 | 651,866.00 | 2 |
Seymour Close | 146,355.00 | 645,407.00 | 0 |
Pemberton Road | 144,745.00 | 638,309.00 | 1 |
Hampton Court Way | 143,375.00 | 632,270.00 | 0 |
Queens Reach | 143,311.00 | 631,977.00 | 1 |
Augusta Close | 142,369.00 | 627,823.00 | 0 |
Ash Island | 141,855.00 | 625,559.00 | 0 |
Avern Gardens | 141,855.00 | 625,559.00 | 0 |
Carleton Avenue | 141,855.00 | 625,559.00 | 0 |
Graburn Way | 141,855.00 | 625,559.00 | 0 |
Island Farm Avenue | 141,855.00 | 625,559.00 | 0 |
Orchard Farm Avenue | 141,855.00 | 625,559.00 | 0 |
Dunstall Way | 141,583.00 | 624,357.00 | 1 |
Oarsman Place | 140,120.00 | 617,899.00 | 0 |
Weston Avenue | 138,519.00 | 610,844.00 | 0 |
New Road | 138,390.00 | 610,285.00 | 1 |
Winchilsea Crescent | 138,087.00 | 608,341.00 | 0 |
Cherry Orchard Road | 137,649.00 | 607,009.00 | 1 |
Alders Grove | 137,513.00 | 606,401.00 | 0 |
Sandringham Gardens | 137,168.00 | 604,881.00 | 0 |
Garrick Gardens | 135,967.00 | 599,595.00 | 0 |
Dennis Road | 135,279.00 | 596,552.00 | 2 |
Mole Place | 135,064.00 | 595,609.00 | 0 |
Churchfields | 134,392.00 | 592,626.00 | 1 |
Park Way | 129,954.00 | 573,056.00 | 0 |
Windsor Avenue | 127,266.00 | 561,208.00 | 1 |
Hurst Lane | 127,136.00 | 560,639.00 | 3 |
The Crescent | 125,726.00 | 554,414.00 | 0 |
Balmoral Crescent | 125,675.00 | 554,200.00 | 3 |
Molesey Park Avenue | 122,726.00 | 541,171.00 | 0 |
Cannon Way | 120,481.00 | 531,284.00 | 1 |
Creek Road | 120,366.00 | 530,770.00 | 0 |
Freeman Drive | 119,689.00 | 527,800.00 | 0 |
Adecroft Way | 119,168.00 | 525,506.00 | 0 |
Minster Gardens | 118,278.00 | 521,577.00 | 0 |
Helen Close | 116,014.00 | 511,576.00 | 0 |
Challoners Close | 115,894.00 | 511,038.00 | 0 |
Molesey Road | 115,479.00 | 509,214.00 | 3 |
Monaveen Gardens | 115,071.00 | 507,412.00 | 1 |
Avern Road | 113,954.00 | 502,497.00 | 1 |
Merton Way | 113,761.00 | 501,650.00 | 3 |
Green Lane | 113,379.00 | 499,971.00 | 1 |
Creek Cottages | 113,071.00 | 498,598.00 | 0 |
School Road | 110,879.00 | 488,954.00 | 2 |
Bridge Road | 110,426.00 | 486,936.00 | 11 |
Third Close | 110,020.00 | 485,133.00 | 0 |
Redland Gardens | 109,303.00 | 481,970.00 | 0 |
Buckingham Gardens | 108,520.00 | 478,514.00 | 4 |
Bell Road | 108,115.00 | 476,739.00 | 3 |
Lytcott Drive | 107,819.00 | 475,438.00 | 2 |
Faraday Road | 107,807.00 | 475,389.00 | 2 |
Ivydene | 107,573.00 | 474,466.00 | 1 |
Rosemary Avenue | 107,568.00 | 474,345.00 | 1 |
Thames Meadow | 107,447.00 | 473,796.00 | 0 |
Beauchamp Road | 106,722.00 | 470,596.00 | 2 |
St Peters Road | 105,208.00 | 463,915.00 | 0 |
Cherimoya Gardens | 105,095.00 | 463,426.00 | 1 |
Buckingham Avenue | 105,073.00 | 463,325.00 | 3 |
Monks Avenue | 104,991.00 | 462,658.00 | 4 |
Pool Road | 104,846.00 | 462,318.00 | 0 |
Anne Way | 103,561.00 | 456,644.00 | 1 |
Fleet Close | 102,943.00 | 453,935.00 | 0 |
Kings Chase | 102,940.00 | 453,910.00 | 4 |
Spring Gardens | 102,823.00 | 453,403.00 | 3 |
Hotham Close | 102,468.00 | 451,836.00 | 0 |
Bedster Gardens | 101,008.00 | 445,401.00 | 3 |
Grafton Way | 100,968.00 | 445,219.00 | 3 |
Linkfield | 100,819.00 | 444,558.00 | 1 |
Chalford Close | 100,771.00 | 444,343.00 | 2 |
The Dene | 100,619.00 | 443,690.00 | 2 |
Molesham Close | 98,773.00 | 435,537.00 | 0 |
Beldham Gardens | 98,244.00 | 433,208.00 | 0 |
Dunvegan Close | 97,571.00 | 430,240.00 | 0 |
Priory Lane | 97,521.00 | 430,027.00 | 2 |
Boleyn Drive | 96,999.00 | 427,722.00 | 0 |
Apps Meadow Close | 96,730.00 | 426,517.00 | 0 |
Molesham Way | 96,386.00 | 425,021.00 | 2 |
Tufton Gardens | 95,936.00 | 423,023.00 | 2 |
Victoria Close | 95,245.00 | 419,989.00 | 0 |
Faraday Place | 93,719.00 | 413,246.00 | 0 |
The Forum | 93,279.00 | 411,312.00 | 0 |
Dundas Gardens | 92,048.00 | 405,868.00 | 1 |
Second Close | 91,938.00 | 405,401.00 | 0 |
Bishop Fox Way | 91,748.00 | 404,543.00 | 0 |
Berkeley Drive | 91,594.00 | 403,974.00 | 1 |
Sadlers Ride | 91,543.00 | 403,645.00 | 1 |
Kelvinbrook | 91,206.00 | 402,165.00 | 5 |
Tonbridge Road | 90,549.00 | 399,259.00 | 0 |
St Barnabas Gardens | 89,401.00 | 394,202.00 | 1 |
Chandlers Close | 88,407.00 | 389,815.00 | 0 |
Central Avenue | 88,089.00 | 388,421.00 | 1 |
Brockenhurst | 87,585.00 | 386,195.00 | 0 |
Walton Road | 87,399.00 | 385,372.00 | 3 |
Island Farm Road | 87,320.00 | 385,020.00 | 0 |
Fleetside | 85,496.00 | 376,987.00 | 9 |
Spurfield | 84,838.00 | 374,071.00 | 1 |
Spreighton Road | 84,823.00 | 374,016.00 | 1 |
Rupert Court | 83,020.00 | 366,056.00 | 1 |
Weldon Drive | 81,602.00 | 359,804.00 | 0 |
Grange Road | 81,427.00 | 359,045.00 | 3 |
High Street | 81,398.00 | 358,897.00 | 3 |
Victoria Avenue | 80,377.00 | 354,404.00 | 2 |
Odard Road | 79,706.00 | 351,453.00 | 0 |
Belvedere Gardens | 78,494.00 | 346,072.00 | 2 |
Approach Road | 76,115.00 | 335,598.00 | 0 |
Ray Road | 75,613.00 | 333,385.00 | 0 |
Dunstable Road | 74,748.00 | 329,568.00 | 0 |
Upper Farm Road | 74,686.00 | 329,306.00 | 1 |
First Close | 74,576.00 | 328,813.00 | 1 |
Down Street | 74,458.00 | 328,293.00 | 2 |
The Fairway | 74,320.00 | 327,692.00 | 0 |
Carlyle Close | 73,739.00 | 325,122.00 | 2 |
First Avenue | 73,396.00 | 323,615.00 | 3 |
Glebelands | 73,067.00 | 322,158.00 | 1 |
Mountwood | 72,527.00 | 319,793.00 | 3 |
Wilton Gardens | 72,375.00 | 319,106.00 | 1 |
Brende Gardens | 70,953.00 | 312,890.00 | 1 |
Coppsfield | 70,422.00 | 310,481.00 | 0 |
Grange Close | 70,185.00 | 309,442.00 | 1 |
Manor Court, High Street | 69,378.00 | 305,883.00 | 0 |
Cambridge Road | 68,752.00 | 303,124.00 | 0 |
Molesey Avenue | 68,540.00 | 302,185.00 | 1 |
Eastcote Avenue | 67,823.00 | 296,656.00 | 4 |
Hampton Court Parade | 66,258.00 | 292,132.00 | 1 |
Yeend Close | 63,297.00 | 279,064.00 | 0 |
Palmers Grove | 62,798.00 | 276,798.00 | 0 |
Grovelands | 59,903.00 | 264,088.00 | 3 |
Pool Close | 58,023.00 | 255,799.00 | 2 |
Central Parade | 57,883.00 | 255,180.00 | 0 |
As a whole, property values in Molesey have increased by £160,549.76 on average in the last 5 years, with the current average proeprty value in the area at £630,572.09.
If you are considering moving on to the next chapter of your life and would like to book a free market appraisal of your home, please click the link below, alternatively you can obtain a quick online valuation here.
You may be thinking of moving, or more likely, you are just interested to know if the value of your property has gone up or down. It can be really difficult to guage what is happening with property values, some estate agents are always talking up the market, and the media is generally extremely negative and apocalyptic about the housing market around Surrey and London.
Let us cut out the rhetoric and the "sales spiel" and get down to some undeniable cold hard facts!
For most of us, it feels like 2008 was only yesterday, the recession hit and transaction levels went through the floor. As an example, the KT10 postcode area (Esher, Claygate, Hinchley Wood) dropped from over 400 annual transactions to just 184. Since then transactions have increased until the most recent peak in 2013 of 446 total transactions. There has been a steady decline in the number of transactions since then, and in 2017 the Land Registry recorded 354 transactions across Esher, Claygate and Hinchley Wood. The level of transactions has declined by 21% since the most recent peak in 2013, but has increased by 4% over the last year. Hardly a disaster story and by contrast to 2008 levels, a very healthy market place indeed.
A similar story applies to areas like Molesey and Thames Ditton, with transaction levels down 21% over a similar period, and still way above 2008 levels.There really is no comparison to the 2008 recession that has been quoted by some of the more dramatic media sources. To sum up, we are not at the "height" of a market trend but we predict prices to remain where they are for the next 2-3 years with modest fluctuations of around 5% +/- throughout this period.
So you know transaction levels are still high, just not as high as they’ve been before, and we know what we're all really interested in… The value of property!
Last year property values across Molesey, Esher, Claygate, Hinchley Wood and Thames Ditton slipped slightly, with the lower end of the market dipping around 5% and the £1m + market dipping by 7% or more. This was purely down to affordability issues and scepticism from would be buyers. As a company, we experienced a market where buyers wanted to buy with interest rates at an all-time low, but sellers were still hoping for record breaking prices creating a gap that either the seller, or the buyer needed to fill. As the consumer dictates the price of a product by demand, this quickly formed a "buyers’ market" mentality, but once asking prices were adjusted, there were plenty of buyers for every property as they jumped at the chance to secure a reasonably priced home.
Since the beginning of 2018, house values have increased across all of the areas we cover: KT10 by 5%, KT8 by 3.14% and KT7 by 5.43%, this shows that the adjustment in asking prices last year from the majority of sellers created more competition from buyers and therefore, persuaded buyers to part with (or borrow) more cash to purchase their next home.
What we are still seeing is an extremely price sensitive marketplace, overestimating your property's value or listing with an agent purely because they provided you with a surprisingly high and intoxicating valuation, can cost you in the long run. Where properties remain on the market for longer than expected, buyers will assume you are desperate to sell and we have in extreme cases, received offers 15% below asking price. This will hinder your chances of getting market value and will make it nearly impossible for your agent to negotiate the best possible price for your property. Correct asking price = hordes of buyers = multiple offers = best price AND best position to proceed.
If you are thinking of selling, look at the sold history in your area on either Rightmove, Zoopla or Land Registry, asking prices are not always, what a property will sell for. Check how long a property has been on the market for, ask yourself why it hasn't sold if it has been on the market for months. Get multiple valuations from agents who have a good record of accomplishment in your area, listen to the facts and evidence rather than just listening to what you hope to hear. In an age where "fake news" has penetrated the majority of information sources, only the facts and evidence that you can verify matter, and that is all a buyer will consider – unless they fall in love with your property and have to submit a sealed bid because there are multiple interested parties! They are more likely to consult their mortgage broker than sold data at that stage!
If you are thinking of selling, would like clear advice on the value of your home and the best marketing strategy to adopt when and if you decide to sell, please call our sales team on either 0208 396 6717 or 01372 631 622 for more information. Alternatively, you can book a FREE valuation by clicking the link below.
So why are buyers queuing up to see properties in East and West Molesey? Truthfuly, no-one really knows as there are many factors to consider; the general election, mortgage rates, budget cuts and so on.
Property markets have "boomed" after general elections in the past, and there have been a long list of additional factors that prevented this from happeneing earlier in the year. Our opinion is that buyers that would have made their purchase in the summer delayed their move, causing a bottleneck effect as they begin to start up their search in the East and West Molesey areas for the final quarter of the year.
Does this mean that the winter period will be unusually busy as well? Only time will tell. All we have to go by is that every season this year has acted out of character from what we are used to, our bet is on a strong market in Molesey right up until Christmas, but of course this is our totally bias opinion!
If you are planning a move, our property valuations and market appraisals are offered free of charge. Why not find out the value of your home so that you can make an informed decision on whether or not now is the right time to move!
T: 0208 396 6717
E: info@newtonhuxley.co.uk
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