In Sutton, the average house price stands at 467,130, with surprising sales as low as 5,000. Prices have seen a notable increase of 15.04% over the past five years, with a more modest rise of 2.69% in the last year. However, property sales reduced by almost 39% year-on-year, while the majority of transactions were in the 240,000 - 350,000 range. The area of Sutton South & Shanklin is noted for having the lowest median price of 296,000. Projections indicate a buyer's market in 2025 as mortgage rates potentially decrease to 4%.
Over the past five years, the average property price in Sutton rose by 62,096, showing a significant upward trend of 15.04 per cent.
Tim Bannister from Rightmove noted that 2025 is expected to be a buyer's market, giving buyers better negotiating power as more homes become available.
Despite the increase in average house prices, some properties were surprisingly purchased for as low as 5,000, indicating a diverse market.
Sutton South & Shanklin has the distinction of having the lowest median house price at 296,000, showcasing price disparities within the area.
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