The £million market is back

Posted on Wednesday, May 29, 2019


The £million market is back

There has been lots and lots of news over the last year about the market for £1m+ properties being almost dead and that was certainly the case for houses in Redhill and Reigate - we sold just 2 properties over £1m in the second half of 2018.

 

However, since January there has been a major turnaround and we've already sold 8 houses in Redhill and Reigate this year with values over £1m, contributing to a running total of almost £35m of property sold so far in 2019 (more on that in our next blog).

 

We’ve seen good demand from local families upsizing within the neighbourhood, but also from people moving to the Redhill and Reigate area from London. Much of our marketing is focussed on capturing London buyers and we’ve found that the twilight photography has really added something to the professional photos we already commission, and people are always saying how useful it is to have a detailed floor plan.

 

But one of the things that has helped us the most is really honing down on exactly what it is that people are actually going to buy, rather than simply asking “how many bedrooms do you want” and then overloading them with unsuitable options. It’s a process we continue to refine and many buyers notice it – we’ve lost count of the amount of times someone has said: “You’re the only agent who’s asked me that!”

 

Here’s a quick run down of the homes over £1m that we've sold so far this year:

 

HOUSES SOLD IN REIGATE

 

Manton, Colley Manor Drive, Reigate: sold for £1,500,000

Colley Manor Drive and its surrounding streets are longstanding favourites with families and professionals alike and this modern five-bedroom home was a real hit with a wish list of aspirational assets including a large sweeping driveway, separate double garage, swimming pool and big garden.

 

10 Ringley Park Road, Reigate: sold for £1,300,000

It was the beautiful finish inside and out at this attractive detached house that got people’s pulses racing, not to mention its lovely position sell well back from a quiet road at the end of a large driveway on the outskirts of Reigate.

 

The Old Rectory, Rectory Lane, Buckland, Betchworth: sold for £1,450,000

Buckland is such a delightful village and this unique 18th century detached house property of historical merit was absolutely exquisite. Loads of period character and modernised features throughout ensured that the expectations created by the neighbourhood were easily met inside.

 

 

HOUSES SOLD IN REDHILL

 

Little Acre, Coopers Hill Road, Nutfield, Redhill: sold for £1,350,000

Little Acre sold before we began our external marketing campaign! But then, this beautiful five-bedroom family home with stunning land, breath-taking views and a lovely location in the sweet village of Nutfield was always going to generate an audience.

 

12 Blackstone Hill, Redhill; sold for £1,250,000

Tucked away between Redhill and Reigate in the leafy environs of Blackstone Hill,  this unique five bedroom detached home offered not only seclusion, but also an excellent location for some outstanding schools and easy access to both town centres

 

Arran, 75 Mid Street, South Nutfield, Redhill: sold for £1,100,000

This stunning and meticulously refurbished period home in South Nutfield proved really popular for its stunning countryside views and proximity to the sweet local village with its great nurseries and schools.

 

The Cottage, Beech Road, Merstham, Redhill: sold for £1,150,000

Peaceful, rural tranquillity and a setting on one of Merstham's most sought-after roads were standout selling points for buyers at this magnificent detached family home whose sweeping driveway offers a spectacular panoramic view across acres of countryside.

 

As you can see, the different types of houses take in everything from Victorian to the 1960s, stopping off at Edwardian and the 1930s along the way, covering a large swathe of the spectrum of residential property in Reigate and Redhill: proof that demand exits for all sorts of houses young and old.

 

The market above for property for sale over £2m still remains sluggish with many buyers finding the huge stamp duty bill quite off-putting. Still, every cloud has a silver lining, and in this instance its for builders: owners with the possibility to enlarge their current home are often opting for an extension for the next chapter of their lives, spending the stamp duty savings on creating extra accommodation. Of course, this will create a whole new series of extra special houses for Reigate and Redhill in the future.

 

If you're thinking of moving and would like to know more about the current market for your own property, we'd love to talk to you.