Property prices in Reigate and Banstead
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Recent trends for prices in Reigate and Banstead
The latest figures from February 2024 indicate the property market in Reigate and Banstead continues to show rising price trends. Compared to January, 2024, average prices increased by 0.4% to £450,540. On an annual basis, average property prices have decreased -5.3% since 12 months ago.
In terms of sales activity, there were 74 residential property transactions completed in Reigate and Banstead during February, 2024. Of these purchases, 39 were financed with a mortgage while 10 were all-cash sales. For cash buyers, average prices have changed by 0.2% since January, 2024, coming in at around £421,306. For properties purchased with a mortgage, the average price changed by 0.4% since January, 2024, to £461,503.
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 £297,735. While Reigate and Banstead saw a change of 0.4% over the last month, England as a whole recorded a percentage change of 0.6% in average property values. And on an annual basis, prices across England have contracted by -1.1%, more than the -5.3% 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 February, 2024
average
£450,540
detached
£838,684
flat
£264,406
semi-detached
£500,729
terraced
£400,854
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 0.6% between February 2024 and January 2024 to reach £400,854, and changed by -5.3% over the last 12 months. The annual change was greater than the -1.7% change seen for terraced homes in England overall.
Meanwhile, semi-detached properties saw a rise in average prices locally, taking them to £500,729 in January 2024. This represents a 0.7% change from the same month last year.This is underperforming the 0.2% annual change in semi-detached values across the country.
Detached homes in Reigate and Banstead lost -0.1% month-over-month to reach an average of £838,684. Annually, detached property values have changed by -6.3%. This is weaker price growth compared to England's -0.5% change for detached houses over the year.
For apartments and flats, average prices increased by 0.3% between February and January 2024, hitting £264,406. Over the last 12 months, apartment values have changed by -6%, lagging England's flat and apartment growth rate of -2.8%.
Overall, semi-detached properties have seen the strongest price momentum locally over the past year, with a change of -3.6%, while detached properties lagged, with a change of -6.3%.
Recent purchases in Reigate and Banstead
According to data from HM Land Registry, there were 74 completed property purchases in the area of Reigate and Banstead in February 2024. Of these sales, 10 were recorded as cash purchases whilst 39 were purchased using a mortgage. Compared to this time 12 months ago, the percentage of properties purchased using a mortgage has changed by -5.4% and the percentage of properties purchased with cash has changed by -5.2%.
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.
Detached property prices in reigate-and-banstead
Semi-Detached property prices in reigate-and-banstead
Terraced property prices in reigate-and-banstead
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