The 9 posh counties where super expensive homes have slumped in price as boom 'over'
02-16-2025
A boom is over in most of the areas, research has shown, as properties are available for less.
By Adam Toms
Sale signs outside houses and cyclist near terrace
Research has shown that the sale of the most expensive properties has fallen on average
A property boom in the Home Counties surrounding London, areas that are typically more wealthy than lots of other areas of the UK, has appeared to have petered out as luxury homes are typically selling for £150,000 less than the asking price.
Sale prices for houses worth £1million or more in the counties fell on average by 9% last year, Investec research shows.
These homes took 121 days to sell on average, The Times reports.
Rightmove suggests that house prices in Surrey over the last year were 5% down on the 2022 peak of £633,217. This was the highest percentage decrease out of the Home Counties.
Although, historical sold prices in Berkshire over the last year were 11% up on the previous year, and 10% up on the 2022 peak of £492,793.
Then cost of housing in the Home Counties has decreased overall
1 Buckinghamshire
Overall average house price over the last year: £489,137
The majority sold in Buckinghamshire over this period were detached, and went for an average price of £752,940. Semi-detached properties, meanwhile, sold for £441,437. Terraced properties fetched £357,340.
Historical sold prices were 1% down compared to the previous year. 3% down on a 2022 peak of £504,186.
2 Hertfordshire
Overall average house price over the last year: £531,686
The majority passed on were terraced, selling for £437,405 on average. Semi-detached properties sold for around £566,856.
The average price tag for flats here was £277,570.
Historical sold prices 2% down on the previous year. 2% down on the 2022 peak of £544,846.
3 Essex
Overall average house price over the last year: £412,024
The majority of properties sold in Essex during the last year were semi-detached properties, selling for an average price of £429,455. Terraced properties sold for an average of £378,702, with detached properties fetching £587,197.
Historical sold prices 2% down on the previous year. 2% down on the 2022 peak of £421,781.
4 Kent
Overall average house price over the last year: £419,693
Majority of properties terraced properties, selling for an average price of £365,890. Semi-detached properties sold for £435,594.
Flats fetched £265,446.
Historical sold prices 1% down on the previous year. 3% down on the 2022 peak of £433,945.
Man walks in historic street with properties either side
Property prices in many places peaked in 2022 (Image: Getty)
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5 East Sussex
Overall average house price over the last year: £421,414
Majority of properties sold were flats, selling for an average price of £271,445. Detached properties sold for £606,954. Terraced properties fetched £407,519.
Historical sold prices 3% down on the previous year. 4% down on the 2022 peak of £438,723.
6 West Sussex
Overall average house price over the last year: £439,013
Majority of properties sold were detached properties, selling for an average price of £674,255. Semi-detached properties sold for £424,829. Terraced fetched £355,229.
Historical sold prices 2% down on the previous year. 2% down on the 2022 peak of £449,508.
7 Surrey
Overall average house price over the last year: £603,687
Majority of properties sold were detached properties, selling for an average price of £978,133. Semi-detached properties sold for £562,489. Flats fetched £297,806.
Historical sold prices 5% down on the previous year. 5% down on the 2022 peak of £633,217.
8 Berkshire
Overall average house price over the last year: £541,406
Majority of properties sold were terraced properties, selling for an average price of £625,337. Semi-detached properties sold for £476,429. Detached properties fetched £756,943.
Historical sold prices 11% up on the previous year. 10% up on the 2022 peak of £492,793.
9 Oxfordshire
Overall average house price over the last year: £472,896
Majority of properties sold were semi-detached properties, selling for an average price of £437,191. Detached properties sold for £685,105. Terraced properties fetched £395,599.
Historical sold prices 4% down on the previous year. 2% down on the 2022 peak of £483,752.
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