Discover Sutton’s areas with the lowest property prices in 2024, property sales figures and future market trends.
Over five years, prices rose £62,096, about a 15 percent increase. In the last year, prices grew £12,442, an increase of just under 3 percent. There were 562 home sales last year, which is 219 fewer than the year before, nearly a 39 percent drop.
Most sales (155) ranged from £240,000 to £350,000, followed by £350,000 to £460,000, with 114 sales in that range.
Here’s where the cheapest homes in Sutton sold in 2024: Lenham Road: £5,250; Silverdale Close: £13,500; Carshalton Road: £29,300; Regent Parade: £31,000; and Gander Grene Lane: £60,001. Sutton Court Road sold for £102,500; London Road, Cheam, went for £104,841; and Wordsworth Drive, Cheam, sold at £113,000.
Cressingham Grove sold at £125,000 and another London Road, Cheam, at £127,000. Most of these sales happened in March, with only the Wordsworth Drive sale occurring later in the year.
Lenham Road had a very cheap property. However, Sutton South & Shanklin are cheapest overall; the median price there was £296,000.
Mortgage rates may drop to about 4% by 2025, which experts think will boost the housing market. Buyers might have more power, too, as there are more homes available now.
Rightmove thinks 2025 will be a buyer’s market, perhaps giving buyers time to find the right home. Good homes still sell fast in sought-after areas.