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'Constant demand' for Surrey family homes

Family homes in Surrey continue to be in high demand, with prices for these properties maintaining higher levels than the rest of the country, it has been claimed.

Mark Collins, area director at Surrey-based estate agency Curchods, said as a result of this ongoing demand for homes in the area, many present homeowners are chancing their arm with higher prices when it comes time to sell.

However, unless these properties are the most sought after in their area, then sellers are seeing these price increases fall flat.

Mr Collins commented: "If you have got a house that is on the best road in a village in Surrey then you can still afford to be optimistic, but for other properties that are a bit more run of the mill - a standard three-bed semi somewhere - then you have got to be realistic."

He added that there is always a shortage of four-bedroom family houses that are affordable.

Commuter towns across Surrey continue to attract significant levels of interest, as any property that offers an easy commute into larger urban areas is seen as top of buyers' wish lists.

Meanwhile, Mr Collins added that more first-time buyers are being called for, as the high deposits required by lenders to secure borrowings remains a significant stumbling block to their entry into the market.

Indeed, many of those who are able to buy their first home are only able to do so with the help of parents or other loved ones who provide them with a cash boost for their deposit.

The latest figures from the Land Registry concerning house prices revealed a 0.7 per cent increase in value for homes in England and Wales during August this year, with the average property now valued at £163,376.

Prices in the south-east rose by 0.4 per cent during the month and have increased by two per cent over the last year. 

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