Latest prices in Reigate and Banstead for Terraced properties
The latest figures show that the average price for a Terraced property in Reigate and Banstead has now reached £417,387 as of Jul 2024. This value is based upon the average value of completed property transactions in the month of July.
Average prices for a Terraced property have increased substantially over the longer term in Reigate and Banstead. Back in January 1995, prices for this type of property averaged £64,861 based on sales at the time. Fast forward to January 2024, and averages reached £406,733 - representing a growth of 527% over 29 years.
This substantial triple-digit percentage rise in Terraced property values far outpaced broader inflation over the same period. Rising household incomes, strong local economy, high demand and constrained supply all likely contributed to the steep price inflation seen for Terraced homes in Reigate and Banstead over the past 3 decades.
Our data is sourced directly from HM Land Registry and their UK House Price Index report. This dataset is updated several times a year and we always attempt to have the most up to data information available.
The UK HPI uses sales data collected on residential housing transactions, whether for cash or with a mortgage. Properties have been included in England and Wales since January 1995, in Scotland since January 2004, and in Northern Ireland since January 2005, Data is available at a national and regional level, as well as counties, local authorities and London boroughs.
Terraced prices in Reigate and Banstead over the last 12 months
Date
Price
Aug 2023
£429,153
Sep 2023
£427,442
Oct 2023
£432,675
Nov 2023
£413,539
Dec 2023
£414,042
Jan 2024
£406,733
Feb 2024
£407,661
Mar 2024
£407,661
Apr 2024
£418,575
May 2024
£417,293
Jun 2024
£420,411
Jul 2024
£417,387
Recent trends for prices in Reigate and Banstead
The latest figures from July 2024 indicate the property market in Reigate and Banstead continues to show falling price trends. Compared to June, 2024, average prices decreased by -0.8% to £466,545. On an annual basis, average property prices have decreased -0.1% since 12 months ago.
In terms of sales activity, there were 78 residential property transactions completed in Reigate and Banstead during July, 2024. Of these purchases, 44 were financed with a mortgage while 14 were all-cash sales. For cash buyers, average prices have changed by -0.7% since June, 2024, coming in at around £434,245. For properties purchased with a mortgage, the average price changed by -0.9% since June, 2024, to £478,576.
Compared to the overall picture in its national parent England, the average property price in Reigate and Banstead are higher than the current national average of £305,879. While Reigate and Banstead saw a change of -0.8% over the last month, England as a whole recorded a percentage change of 0.2% in average property values. And on an annual basis, prices across England have grown by 1.6%, more than the -0.1% yearly change seen in Reigate and Banstead.
Interested in purchasing a property in Reigate and Banstead? Use our Monthly Mortgage Cost Calculator to see how much a property may cost you per month. This tool is for illustrative purposes only and does not constitute financial advice.
Average price in Reigate and Banstead by housing type
Prices last recorded in July, 2024
average
£466,545
detached
£870,309
flat
£273,856
semi-detached
£514,835
terraced
£417,387
Prices by housing type in Reigate and Banstead
Recent data shows that price growth has varied across different property types in Reigate and Banstead over the last year. For terraced houses, property prices changed by -0.7% between July 2024 and June 2024 to reach £417,387, and changed by 0.8% over the last 12 months. The annual change was greater than the 1.8% change seen for terraced homes in England overall.
Meanwhile, semi-detached properties saw a fall in average prices locally, taking them to £514,835 in June 2024. This represents a -0.8% change from the same month last year.This is underperforming the 2.2% annual change in semi-detached values across the country.
Detached homes in Reigate and Banstead lost -0.8% month-over-month to reach an average of £870,309. Annually, detached property values have changed by -0.9%. This is weaker price growth compared to England's 1.6% change for detached houses over the year.
For apartments and flats, average prices decreased by -0.9% between July and June 2024, hitting £273,856. Over the last 12 months, apartment values have changed by -1.1%, lagging England's flat and apartment growth rate of 0.4%.
Overall, semi-detached properties have seen the strongest price momentum locally over the past year, with a change of 1.2%, while flat properties lagged, with a change of -1.1%.
Recent purchases in Reigate and Banstead
According to data from HM Land Registry, there were 78 completed property purchases in the area of Reigate and Banstead in July 2024. Of these sales, 14 were recorded as cash purchases whilst 44 were purchased using a mortgage. Compared to this time 12 months ago, the percentage of properties purchased using a mortgage has changed by 0% and the percentage of properties purchased with cash has changed by -0.4%.
The number of cash and mortgage purchases may not match the recorded number due to exclusions listed on the gov.uk website
Looking for a specific property type?
Use one of the following links to find more specific information about the type of property you're looking for in reigate-and-banstead.
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