Overview of Housing Market
This page provides an overview of Housing facts and figures.
Overall, annual UK house price inflation is significantly lower than it was at the same time last year, at 3.3% compared to 12.6%. Annual inflation this year in the South East is even lower at 0.6%, although indications are that this will rise. Prices in the Borough have followed the national trend with a rise of 3% over the last twelve months. UK House prices have risen for the fifth consecutive month.
Although sales in Reigate and Banstead rose steadily until 2003, there was a substantial drop in sales in 2005. The market has risen this year, but is still at a lower level than in 2001.
House prices in Reigate and Banstead are 24% above the average for the South East and there is considerable demand for affordable housing. The population growth in the Borough is higher than the Surrey average and this with the rising number of one-person households increases the demand even further. This is reflected in the house prices for the Borough, which have increased for semi-detached and terraced properties and flats, but reduced by 9% for detached houses, since last year.
Some 70% of the Borough is Green Belt land, which adds to the pressure on the urban areas. More houses have been built in the Borough than in any other District in Surrey and the Surrey Structure Plan requires an additional 6,290 houses to be built over the period 2001 to 2016.
Downloads:
Affordability (13.5K) House Prices (14.0K) Household Composition (14.5K) Housing Completions 2001-2006 (14.5K) Housing Stock (15.5K) Tenure (13.5K)
Reigate & Banstead Borough Council
Town Hall
Castlefield Road
Reigate
RH2 0SH
01737 276000
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