Table of Contents
- Buying auction properties in Surrey
- Property prices in Surrey
- Where should I look for auction properties in Surrey?
- Auction Properties in Surrey FAQ
- Popular places to buy an auction property in Surrey
- What kind of auction properties in Surrey are available?
- Commercial and industrial auction property in Surrey
- 5 reasons to buy property for sale at auction in Surrey
- Conclusion about buying auction property in Surrey
Buying auction properties in Surrey
Because of its many attractions, buying auction properties in Surrey is extremely popular but also highly competitive. This part of the commuter belt offers its inhabitants first-class shopping and leisure facilities. Indoor and outdoor activities range from golf to ice skating. It is a mixture of urban towns and picturesque villages. Although many of the best-known southern commuter towns are in Surrey, it has more woodlands than any other county in the UK. Many of its inhabitants work in the capital.
However, many others are employed by large multinationals such as Toyota and Unilever which located there. With all the positive aspects of living there, it is obvious why buying auction properties in Surrey continues to be many people’s first choice.
Property prices in Surrey
As people become priced out of the capital and buying auction property in London has become more expensive, many have traditionally moved into Surrey. However, this has had the knock-on effect of raising property prices in the area. In fact, Surrey heads the list of the most expensive county to buy property and prices have registered a 3% rise since 2019.
The cost of buying a property in Surrey varies according to its type, size and condition. However, the overall average is over half a million pounds (£550,000). This can be broken down further according to property types as follows:
Average property prices in Surrey, England
- Flats in Surrey: £352,000
- Terraced houses: £401,000
- Semi-detached houses: £546,000
- Detached houses: £671,000
Where should I look for auction properties in Surrey?
Choosing where to live in Surrey depends on factors such as where you work. If you are a commuter, consider how long you want your journey time into London to last. Depending on how isolated you wish to be, you could live in a rural or urban setting. Property types in Surrey range from modern detached houses with all the mod cons to country cottages which might need some renovation.
Auction Properties in Surrey FAQ
How can I find auction properties in Surrey?
Auctioneers and live property auctions are the best way to find out about property auctions in Surrey. You could subscribe to auction houses’ newsletters and receive regular updates as property comes up for auction.
How much are auction properties in Surrey?
On average the guide price for an a property sold at auction in Surrey is £500,000-£550,000. However, parts of Surrey are less fashionable (such as Croydon) and can be almost half this price. Period detached homes will be much more expensive, around £750,000-£1.5 million depending on their age, condition and size.
Which areas are best to find auction properties in Surrey?
The best places to look for an auction property in Surrey are Guildford, Woking, Dorking, Reigate and Epsom. You should also consider the many different properties which come up for sale in rural parts of Surrey.
Can I buy repossessed properties at auction in Surrey?
Yes, repossessed property in Surrey is often sold at auction. The auctioneer’s catalogue or website will notify you if the property at auction has been repossessed. Alternatively, dates of forthcoming auctions of repossessed properties are printed in the local press.
Popular places to buy an auction property in Surrey
Located 27 miles south-west of London and with a 40-minute commute, Guildford is the county town of Surrey. It has all the amenities that you would expect from a town such as an award-winning sports centre, a Lido, a range of retail facilities as well as some of the best state and private schools in the south of England. It also has the character of old Guildford including historic buildings, cobbled streets and a castle. Apart from Stoke Park, it is situated on the edge of the North Downs which appeals to lovers of the outdoors. The price of property in Guildford ranges from £300,000-£615,000.
Dorking is a small market town located between the North Downs and Greensward Ridge and with easy access to the countryside. It especially appeals to families as it has good quality schools, a low crime rate and a range of sports and cultural amenities. The shopping facilities in Dorking range from most High Street chain stores to independent shops. The commute is slightly longer than from Guildford (53 minutes) but property in Dorking is slightly cheaper (averaging at £418,000).
Woking is a much more modern town than Guildford, so it is more affordable. Most Woking property is in the £300,000-£350,000 price range. It also does not have the range of property types of other Surrey towns, mostly consisting of the standard housing stock of 20th-century terraced or semi-detached houses and fewer period homes. It has all the facilities you need such as shopping centres, a theatre and good schools. If anything is needed, London is much more accessible from Woking with about 14 trains an hour with a journey of 28 minutes.
Reigate is a market town which appeals to all ages from children to retirees. It is located in the Surrey Hills which is an Area of Outstanding Natural Beauty (AONB) of heathland and woodlands, ideal for walks and hiking. For those who want a day out in the town, Priory Park has a range of amenities including a lake. It has all the cultural, retail and sports facilities you would expect from a 21st-century English town. Reigate property tends to be pricier than other Surrey towns with most property in the £350,000-£400,000 price bracket although a period home could cost over £650,000.
Located in London’s Fare Zone 4, Worchester Park is one of the cheapest places in Surrey to travel into London from with an average of 6 trains an hour and a journey of about 30 minutes. It would appeal to young professionals or families in particular with a range of good state and independent schools. The housing stock in Worchester Park mainly consists of flats, inter-war semi-detached homes, terraced houses and a few larger detached properties. The prices for property in Worcester Park (averaging £487,000-£546,000) reflect how much it has been influenced by the London property market.
What kind of auction properties in Surrey are available?
Cheap auction property in Surrey
Despite the average property price of over £500,000, it is possible to pick up cheap houses sold at auction in Surrey. One of the cheapest towns to buy property is Croydon. You can find a 3-bedroom house there for under £300,000. Another location to search for relatively inexpensive housing in Surrey is Camberley. A 3-bedroom house there costs £300,000-£320,000, and it is relatively close for anyone working in either Farnborough or London. Finally, a family home in Horley costs £325,000-£340,000. The only problem with Horley is that it is on the flight path of Gatwick airport, so noise might be an issue.
Retail auction property in Surrey
With a population of 1.2 million, there is a large potential customer base for anyone interested in buying a retail auction property in Surrey. Although it has the usual share of chain stores, many of the towns in Surrey are also able to support independent shops. Whether you are interested in opening a restaurant or an antiques store, it is worth doing some market research beforehand to pinpoint the best possible location for your business. Prices start from £35,000 (for retail properties in Croydon or West Molsey) and go up to £1-£3 million for retail space in more exclusive areas such as Richmond and Cobham.
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Commercial and industrial auction property in Surrey
With easy access to suppliers and distributors, Surrey is also the ideal location if you are interested in buying commercial or industrial auction property. There is a number of industrial parks with warehouses and factory space of varying footage, including Henley Business Park. Located just outside Guildford, this industrial park has just undergone major regeneration. For medium-sized industrial auction properties in Surrey, the prices are in the £1-£2 million price range depending on location/condition, or about £15-£25,000 per square foot.
5 reasons to buy property for sale at auction in Surrey
Located on some of the south’s major arterial roads (the M3, M23 and M25), it is easy to travel to/from Surrey by road. It is also well served by regular coaches and trains into the capital as well as to other major southern English towns and cities. It is also near to Gatwick and Heathrow airports.
The scenery around Surrey
Despite its image as a county of commuters with large towns and cities, the landscape of Surrey is quite beautiful with many picturesque villages. It contains areas such as Box Hill (an Area of Outstanding Natural Beauty) as well as heathlands, woodlands, meadows and fields.
Variety of leisure activities in Surrey
You will never be at loss for something to do in Surrey. Apart from world-class sports facilities (including the largest number of golf courses of any English county), it has a range of cultural amenities such as theatres and cinemas. For a day out, the attractions in Surrey include Thorpe Park and Chessington World of Adventures.
Job opportunities in Surrey
With one of the lowest unemployment rates in the UK, there are plenty of job opportunities in Surrey, whatever your field. People in the county work in a wide variety of jobs from aviation to the media. If you can’t find a job to suit you locally, commuting into London is a viable option.
Conclusion about buying auction property in Surrey
Surrey may be the most expensive place to buy a property at auction, but it also has some of the highest salaries and standards of living and the lowest unemployment rate in the UK. Other benefits of living there are the good communication links, the sports and cultural amenities and the good primary and secondary schools. This is why it appeals to all ages from people with young families to retirees. Buying an auction property in Surrey is the ideal choice for anyone who wants a mixture of urban and rural environments.