• Sep

Woking, House Prices Continue to soar

Woking, House Prices Continue to soar, while land registry reports a national reduction in transaction volumes.
Countrywide Land Registry data, shows an average of 65,550 transactions per month completed between March and June compared to 73,985 sales a month in the same period last year.
A reduction in volumes is not good news for those involved in the property business, and rising prices is not good news for a buyer, but as a Landlord or Seller it great news, with supply falling and demand rising prices continue upwards. August price data shows an annual price increase of 4.2 per cent which takes the average property in England and Wales to £184,682.
In Woking there has been over double this rise in certain price ranges most noticeable on one bedroom properties which now are rarely found below £200,000 with the central one bedroom apartments close to the station experiencing the strongest demand achieving £250,000. These exceptional price rises have occurred due to the competition between buy to let investors and first time buyers.
With such quick growth in the market it’s crucial a seller contacts a local agents such as Grants to provide a valuation and do not rely on an online calculator to provide an assessment as these can be working from data that is six months old and as a result be over 10% out.