Surrey and South West London property market update: trends, prices, and insights for 2025

In this local market update we dive into the current property market in Surrey and South West London, sharing insights on average sale prices, days on market, and emerging trends.

Latest average sale prices in Surrey

Most of the sales in Surrey over the past year were semi-detached properties which on average sold for £561,979. Detached properties had an average sold price of £960,995 and flats averaged at £299,350. Surrey, with an overall average price of £596,714, was more expensive than nearby West Sussex (£439,850), Berkshire (£542,972), and East Sussex (£421,478). The most expensive area within Surrey was Wentworth (£2,442,747) and the cheapest was Goldsworth Park (£373,790). Overall, house prices in Surrey were 6% down on the year before.

Latest average sale prices in South West London

Knowing the average sale prices in your area is key to setting realistic expectations and setting a competitive price you are happy with. According to Rightmove, house prices in South West London have an overall average of £778,791 over the last year. The majority of properties sold in South West London during the last year were flats, selling for an average price of £545,660. Terraced properties sold for an average of £1,020,690, with semi-detached properties fetching £1,344,950. Overall, the historical sold prices in South West London over the last year were 4% down on the previous year.

Days on market

How long properties stay on the market is a good indicator of demand and market activity. Our average time from listing to an offer is just 50 days, well below the national average of 150 days. This means you’re more likely to get an offer on your property quicker if you sell with us.

Broader trends and current interest rates

In November 2024, The Bank of England reduced interest rates to 4.75% down from 5%. This was followed by a further cut in interest rates in February 2025 from 4.75% to 4.5% at the moment - the lowest base rate since June 2023, boosting optimism in the housing market. To get an estimate of how much you could borrow, try our quick mortgage calculator.

Sales activity has also picked up, driven by first-time buyer activity and existing homeowners who had postponed their moving plans until borrowing costs dropped and the market outlook improved. First-time buyers were on track to be the largest buyer group in 2024 according to Zoopla, making up 36% of all sales. Existing homeowners with mortgages were the next large group at 31%, while cash buyers, including mortgage-free homeowners and investors, accounted for 27% of sales. In 2025, the property market is expected to continue to recover, supported by strong buyer demand, improving affordability, and favourable economic conditions.

Martin Humphreys from Goodfellows, shares his perspective: "We are very fortunate at present as the market is active in all price ranges with flats and maisonettes appealing to downsizers, and houses which are correctly priced are selling well particularly if they are either very nicely presented or needing everything done. Buyers are still prepared to commit and still see property as a long-term investment. There is more property coming onto the market which is also encouraging more people to think about a move, so although the backdrop of the economy is challenging at present, the reasons for people to move are still very prevalent, which is making the market feel very active."

Take advantage of our free valuation today

Find out how much your property’s worth and make the most of the current market by using our free valuation service today. As one of the leading estate agents in the area with over 30 years' experience in the local property market, we’re dedicated to helping you get moving.

Sources:

• Market data sourced from the Guild Competitor Analysis, September 2024.
• Data on average sale prices in Surrey and South West London taken from Rightmove, 2025
• Data on national average moving timelines sourced from Rightmove, 2022.
• HM Treasury, Average of Independent Forecasts November 2024
• As 2025 approaches, the property market is poised for continued recovery - The Guild - Property Industry Eye