Branch partner of Charters in Farnham, Timothy Branston, shares his ardent view about life in Farnham, Surrey.
Lying midway between London and Winchester, Farnham is a thriving and bustling historic town. The largest town in Waverley and one of the top five conurbations in Surrey, it’s populated with fascinating old buildings, including a number of impressive Georgian houses, fine restaurants and independent boutiques.
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The local property market has been significantly bolstered by those relocating from across the UK, especially from London. Recent ONS statistics demonstrate that in the 12 months to the end of June 2014, 13,410 people chose to move to East Hampshire and Waverley from other parts of the UK. The majority came from close by. The three most popular boroughs to move from were Guildford, Havant and Chichester. Of the areas outside the south east, seven of the top ten most popular boroughs for relocation were from inside the M25, with residents from three of the wealthier London Boroughs, Wandsworth, Richmond and Kingston, accounting for a third of those venturing out from the capital, representing 18.8% of the inward migration to the area. The average house sold around Farnham and Alton was just 53% of the cost of one sold in these three boroughs, meaning many of those coming from the capital have deeper pockets than the locals. Since 2009 nearly 12,000 Londoners have left the capital in search of a more tranquil life around Farnham.
Promising indicators felt in the housing market immediately after the election have now translated into an increase in activity. Both house prices and the number of houses sold are on the rise. The number of transactions in July was 16.5% higher than June and 6.0% up on July last year according to HMRC. In the three months since May there has been a 71% increase in the number of properties sold by Charters around both Farnham and neighbouring town Alton, compared to the same period in 2014. Properties for sale currently range from a country house with its own lake and 6.5 acres priced at £2 million to terraced starter homes available circa £300,000.
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Lettings viewings across our network have also seen a considerable surge this summer, with activity from May to July increasing by 27% compared to the previous three months and up 39% on the same period last year. Rental properties ranging from £1,000 to £1,500 tend to be the most popular and are quickly snapped up by tenants working either locally or commuting to London.
There is certainly something for everyone on many levels, in this vibrant county town.
Click the links below to view the full market insight reports from Charters Estate Agents:
Alton and Farnham
Winchester and Alresford
See www.onthemarket.com/newandexclusive. Agents specify exclusivity and are committed to accuracy under terms of use.
