June 2020

Since the Reigate property market reopened in May, Halliwell Marks has agreed sales on 10 properties in RH2*, making it the most successful agent in Reigate. This accounts for 18% of all properties sold in RH2. It is fantastic to see our experience, with over 60 years combined estate agency experience in our Reigate office, along with our hard work, and determination to provide a high-quality service, provide such good results for our clients.

Reigate Property Market Update

Since the easing of lockdown restrictions mid-May, the Reigate property market has been remarkably buoyant. In the first two and a half weeks of June alone, there have been an impressive 46 sales agreed on properties in the RH2 area. That is up 64% on sales agreed in June 2019, and way above the monthly average in 2019 of 32 and easily outstrips the sales agreed in January (35), February (42) and March (26).

However, it is not only the quantity of sales that is encouraging. At Halliwell Marks, we are receiving large numbers of enquiries from high-quality buyers, ready to move and frequently offering the full asking price and so, whilst it is still early days, housing prices are remaining resilient.

These numbers are particularly interesting given the backdrop of global lockdowns and the uncertainty of how things will unfold over the coming months. However, what is clear is the significant demand for property in the Reigate area. All of this could probably be easily be explained. Brexit caused significant uncertainty and consequently, a lower number of property transactions.   However, December 2019 finally brought some movement towards a conclusion of Brexit and in swift response, the market began 2020 with a lot of momentum. Whilst Coronavirus caused some people to delay house moves initially, the fundamentals behind that demand which has been building for many years has not changed. Combine that with low interest rates and spending so much more of our time in our homes, is it surprising people are returning to the market to look to make that move they have been delaying for many years?  

Of course, it is too early to tell where the economy will be in a year, or even 6 months, and how the world’s battle to control COVID-19 will unravel, but what we have seen is a very positive response to the market reopening.  

If you’re thinking of marketing your property, call us on 01737 303099 for a chat about how we can help.

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A. Davey