Strategic consulting service Global Apartment Advisors (GAA) has published a new report as part of its ‘Commuter Series,’ a resource for property investors looking at the South East of England.
The Surrey Market Spotlight examines how the county’s unique mix of natural beauty, thriving communities and superb connectivity to the capital have positioned it as one of the most desirable locations in London’s commuter belt.
The report highlights the growing disposable income of Surrey families and the growth in employment across the county, with the latter increasing by 2.63% in the decade to 2021.
County-wide, the employment rate stands at 83%. The average disposable income across key districts, including Woking, Guildford, Elmbridge, Spelthorne, and Reigate and Banstead, rose by 35% over the same period, from £22,803 per annum to £30,823.
Of further interest to investors is that the average rental value for studios and one- and two-bedroom flats has risen by 5% across five Surrey districts: Guildford, Elmbridge, Woking, Staines and Redhill. Each of these locations benefits not just from a picturesque setting surrounded by countryside and a bustling local life, but from easy access to London. An established rail network carries commuters into stations including Waterloo, London Bridge and Victoria, with journeys ranging from around 23 to 45 minutes, depending on the particular Surrey town in question.
Adding to the county’s appeal to property investors is its rapidly growing population. The GAA report reveals that the average population growth rate across Woking, Guildford, Elmbridge, Spelthorne, and Reigate and Banstead was 17% between 2001 and 2023. The Reigate and Banstead area led the growth, with an impressive increase of 23.1% over the period.
As the Spotlight survey reveals, Surrey’s housing stock has grown steadily to accommodate the county’s expanding and increasingly affluent population. The number of existing dwellings in 2001 was 444,000. By 2024, that figure had shot up to 521,000 – growth of 16.2%. Yet many more homes are required to meet the needs of the still-growing population, with nearly 3,000 new dwellings completed annual to meet demand.
On the rental front, strong demand has been driving mid-market priced over the past 12 months, with the growing Build to Rent sector adding modern, well-managed homes for diverse households in key urban areas within the county. Over the past year, studio rents have ranged from £1,044–£1,289 pcm and one-bedroom rents from £1,227–£1,424 pcm, while two-bedroom rents from £1,577-£1,777 pcm. Seasonal peaks in letting activity occur during January, July and September.
Both Staines and Walton-on-Thames stand out for their investment credentials.
Investors can download the Surrey Market Snapshot for free.
