SOUTHEAST

Thanks to its close proximity to London, the southeast has benefited from the boom in the capital’s property market, with prices rising 9.6% in the past 12 months, according to Land Registry figures. Traditional commuter towns in Surrey and Hampshire have seen the most rapid inflation; Sevenoaks, in Kent, remains the most expensive place in the region, with an average price of £526,601. Oxfordshire has also done well – prices in Oxford have jumped 26% in the past year.

Some agents, however, believe the City-bonus-driven boom may be over – at least for the time being. “We had a big influx of City buyers early in the year,” says Nigel Mitchell, a partner in Knight Frank’s Guildford office. “But there is a lot more stock around. While there is still good demand, we are past the peak now.”

Not so in towns such as Bracknell, Slough, Dartford and Crawley. This time last year, they were among the best-performing locations in the region, attracting first-time buyers and bargain-hunters. Things have slowed since, but analysts expect the market to pick up in the coming months. “It is the secondary areas, where prices are still affordable, where growth will be highest,” says Richard Donnell, head of research at housing analysts Hometrack.

Average property price: £221,173

Annual increase: 9.6%

Expectations: “Growth will be above average, but will slow to 4% or 5%,” Donnell predicts. “Prices will rise along the M4 and A3 corridors. After those, the affordable areas will be most in demand.” Prices in future years will be supported by population growth

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