A change in market sentiment

For a long time now many people have either been dissuaded from moving by all the negativity that surrounds the topic or waiting for a decision on Brexit before committing to moving home.

This further delay announced for the Brexit deadline may just have provided the push to spur homeowners in Woking into action, to make that home move they had previously been delaying, for years in some cases.

The renewed, more positive narrative on the Brexit outcome introduced by our new Prime Minister Boris Johnson, has brought new confidence to house movers.

 

In the mid to long term we are not expecting Brexit to have a major influence on the property market in Woking – in as much as our close proximity and regular transport links to Central London will continue to provide a protective buffer against negative growth in the market, aided further by the current regeneration programme being undertaken in the town.

For more on this subject, you can read our article on Predictions For The Housing Market in 2019.

 

It’s a seller’s market in Woking right now

What does this mean? Demand from buyers is strong. If you decide to put your Woking property on the market right now, if it’s correctly priced, it should sell quickly.

The re-generation of Woking town centre is helping to attract a lot of attention from buyers from further afield. The £460 million Victoria Square development right outside Curchods Woking branch, is helping to transform the 1970’s feel of the town into the 21st Century. The vibrant and dynamic new look for the town will continue to prove very popular with buyers who want to live in Woking and commute into Central London.

Data from The Advisory shows that it is a very hot sellers market in Woking at present.

Data also shows that the market is a lot ‘hotter’ meaning more active and quick to sell in Woking GU21, than the surrounding postcode areas throughout Surrey, which are much cooler, denoted in blue.

Looking at the data published by The Advisory, you can see that it’s now quicker to sell in Woking than any time in the past 12 months.

Alongside future planned developments for the centre of town, due to begin soon, the £40 million Hoe Valley scheme which has been 20 years in the making, show that Woking Borough Council are focused on improving the quality of life throughout the Borough, including the smaller villages which should continue to help maintain the popularity of the area for buyers for years to come – in turn supporting house prices in the Borough.

If you are a current Woking resident and you are looking for more square footage, a bigger plot size and want to keep your current connections with the schools and local community as well as keeping the commute short (with the 25 minute, 1 stop to London Waterloo), we would highly recommend that now is a good time to be looking to upsize within the town.

SEARCH WOKING PROPERTY FOR SALE

The evidence shows that it’s a good time to be in the market should you look at selling your existing property.

 

For now at least the message is clear, if you want to move, act quickly while the market is ‘Very Hot’!

 

As a seller, our best advice is to find and secure yourself a buyer before searching for a home in Woking, so that when you do see the right place, you have a much better chance of making it yours.

If you are thinking of moving Book An Appointment with us for a free marketing appraisal of your home. This service is free and without obligation.

 

House Prices:

Over the last year whilst there have been conflicting reports in the media that prices have been going up and down in areas of the UK, the housing market in Woking has stabilised. That said, we do anticipate a long term trend for house price rises after Brexit.

Data from the Land Registry supports this – in the last 10 years the average value of detached properties purchased in the Borough of Woking has increased by 49%, whilst flats have risen in value by an average of 33%.

The general mechanics of pricing are derived from supply and demand. Higher buyer demand tends to increase prices, whilst larger quantities of housing coming to the market have the opposite effect and tend to suppress house price growth.

Over the past 12 months whenever supply has cooled off, so too has the demand in equal measure, so the equilibrium of house prices in Woking have remained stable.

 

Property closer to the station in Woking always attracts a larger portion of the market as it appeals to the London market and therefore the demand is higher and capital appreciation is that much greater.

 

Many first time buyers are also aware of this and when making their first purchase they are factoring in the distance to the station, even if they don’t need it for themselves, as they know it will be a benefit when they come to sell at a later date or when the time comes to remortgage and are looking at the equity acquired.

 

Curchods Woking:

When it comes to looking for your next home, now more than ever it is important to not simply rely on searching on Rightmove as some houses are selling before we can release them to the public for internet advertising. Therefore it’s really important to tell us what you are looking for – you can register with us online or contact us in branch.

As a seller, Curchods offer something unique in Woking – we are a single privately owned firm with 21 branches throughout Surrey and south west London. What does this mean for our sellers? We actively introduce buyers throughout our network, which means we bring buyers to properties in this area who may not have considered them before – this helps us achieve excellent prices for our clients.

If you are thinking of moving Book An Appointment with us for a free marketing appraisal of your home. This service is free and without obligation.

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