BERRYLANDS IS THE NEW HOTSPOT FOR PROPERTY

For years it was the sleepy part of Surbiton, but prices in Berrylands suggest that the area is now wide awake. Tim Harrison reports on a surge in demand

When an area is undervalued for long enough, it often leaps forward in a serious price surge.

That seems to be the case in the Berrylands area of Surbiton.

House prices in Surbiton in general have risen between 5 and 10% in the past six months, according to Hawes & Co partner Richard Gee.

But it’s in Berrylands that the striking gains are happening… and prices look set to keep rising for the next three or four years in the present cycle.

Although other parts of the country have taken longer to recover, in the space of around two years Surbiton had largely got over the slump that followed the financial crash of 2008.

And business has been brisk all summer, even with the distraction of warm weather and holidays.

“Interestingly this year we haven’t hit the traditional quiet time of year,” said Richard. “Usually mid-July to early September is quiet, but there’s no sign of a let-up. It means that if we get the stock on the market, it will sell.”

Flats in central Surbiton have been steadily appreciating. Flats that were selling for around £325,000 last year are now going for £350,000 or even £360,000, depending on condition and location. Ones that were selling for £270,000 have now gone through the £300,000 mark.

But some of the greatest buyer interest is being shown in semis in Berrylands. “A year ago you were probably looking at achieving around £475,000, now homes in Alexandra Drive are selling at £500,000,” said Richard. One recently went for £540,000.

Nearby in Pine Gardens houses have been exceeding the asking price, with some fetching £700,000. A year ago they might have been selling for around the £620,000 mark.

“Berrylands has always been undervalued. The Pine Gardens area is popular because it’s traditionally been the place to settle for the long term,” said Richard. “A lot of families have been there a long while, the tennis club is nearby and there is often room to extend. The gardens are a good size, and people have been buying them up and really putting money into them.”

What really seems to appeal to buyers are the back gardens (many extending 130ft) and the closeness of both Berrylands and Surbiton stations.

“People are buying for the future,” said Richard. “They are buying with a view to the potential which can be released.”

As ever, it is train connections with Waterloo which underpin the local market.

“People will pay a premium to secure the house they really want, in the right location,” Richard added. “The local market seems to have momentum.”

Hawes & Co is at 67 Victoria Road, Surbiton KT6 4NR. Call 020 8390 6565 or Click here for further details on this property.


By Tim Harrison 05/09/13