Housing facts and figures
House prices and affordability
In common with much of the county of Surrey, average house prices in Reigate & Banstead are significantly above the regional and national averages. According to Land Registry information the average price of a house in the borough at the end of 2010 was £371,000. Of the 11 Surrey districts, Reigate & Banstead has the sixth highest house prices. The latest house price statistics for the borough are available from the Department for Communities and Local Goverment House Price Live Table.
Average house prices in Reigate & Banstead have shown significant inflation over recent years, recovering from the decline experienced as a result of the wider economic downturn. At the end of 2010, house prices were more than 12% higher than the previous year.
Market affordability is recognised as one of the most significant challenges facing the housing market. In Reigate & Banstead, the affordability ratio; which is an expression of median house prices to median earnings, is significantly higher than the national average. However, the borough's ratio is below the Surrey average, suggesting that houses in the borough are more affordable than in some of the neighbouring districts. The latest affordability statistics are available from the Department for Communities and Local Government Affordability Live Table.
The Council monitors housing delivery annually. This monitoring includes:
- Analysis of new housing completions and planning permissions
- Information on affordable housing delivery
- Performance against planning policy targets and indicators
More information on the housing market and housing delivery in the borough can be found in the latest Housing Monitor.