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Housing prices in Reigate and Banstead

How average house prices and rents are changing in Reigate and Banstead.

In Reigate and Banstead:

House price £456,000

The average house price in Reigate and Banstead was £456,000 in May 2024 (provisional), down slightly 1.5% from May 2023. Across the South East, there was little change in the average house price over the same period.

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Monthly rent £1,521

Private rents rose to an average of £1,521 in June 2024, an annual increase of 8.9% from £1,397 in June 2023. This was higher than the rise in the South East (8.2%) over the year.

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First-time buyers £350,000

The average price paid by first-time buyers was £350,000 in May 2024 (provisional). This was 1.6% lower than the average of £356,000 in May 2023 (revised).

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Mortgage buyers £468,000

For homes bought with a mortgage, the average house price was £468,000 in May 2024 (provisional). This was 1.4% lower than the average of £475,000 in May 2023 (revised).

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Warning:

Local housing data are based on a smaller number of properties than our national estimates. This means that short-term trends are more variable. We advise looking at trends over a year or longer.

We regularly revise our house prices estimates. UK-level rent estimates for the latest two months, and all house price data, are provisional and subject to revision.

Figures in this article are not seasonally adjusted.

You may also be interested in our recent analysis of which local areas of England and Wales have been most and least exposed to rising mortgage and rent costs during 2023.

Average house price in Reigate and Banstead was £456,000 in May 2024

The provisional average house price in Reigate and Banstead in May 2024 was £456,000. This was slightly lower than the average of £463,000 in May 2023 (revised), a 1.5% fall.

Annual change in house prices in Reigate and Banstead

House price annual inflation, Reigate and Banstead, January 2005 to May 2024

Across the South East, the average house price in May 2024 was £376,000, which was in line with a year earlier (£373,000).

Across Great Britain, a home sold for an average of £288,000 in May 2024, which was up from the May 2023 average of £282,000.

In the year to May 2024, the average price for semi-detached properties in Reigate and Banstead stayed around the same over the year, while the average price for flats decreased by 2.7%.

Change in house price by type of property in Reigate and Banstead

Provisional figure for 12-month change in house price, by property type, May 2024

For each property type, average prices as of May 2024 in Reigate and Banstead were:

  • Detached properties: £854,000
  • Semi-detached properties: £505,000
  • Terraced properties: £405,000
  • Flats and maisonettes: £268,000

Average private rents rose in Reigate and Banstead

The average monthly private rent in Reigate and Banstead was £1,521 in June 2024. This was an increase from £1,397 in June 2023, a 8.9% rise.

Annual change in rents in Reigate and Banstead

Private rental price annual inflation, Reigate and Banstead, January 2016 to June 2024

Across the South East, the average monthly rent was £1,302, up from £1,202 a year earlier.

Across Great Britain, the average rent price in June 2024 was £1,271, which was up from £1,170 in June 2023.

Average rent in Reigate and Banstead compared with the South East

Average rental price, June 2024

In Reigate and Banstead, the average rent for semi-detached properties rose by 9.2%, while for detached properties and terraced properties, it increased by 8.7%.

Average rent for one bed properties rose by 9.2%, while the average for four-or-more bed properties increased by 8.0%.

Change in average rents by bedroom number in Reigate and Banstead

Monthly private rental price, annual inflation, June 2024

By how many bedrooms there are in a property, average rents as of June 2024 in Reigate and Banstead were:

  • One bedroom: £1,049
  • Two bedrooms: £1,373
  • Three bedrooms: £1,688
  • Four or more bedrooms: £2,425

Taking the data instead by property type, average rents were:

  • Flats and maisonettes: £1,220
  • Terraced properties: £1,530
  • Semi-detached properties: £1,624
  • Detached properties: £2,248

First-time buyers in Reigate and Banstead paid £350,000 on average in May 2024

The provisional average price paid by first-time buyers was £350,000 in May 2024. This was slightly lower than the revised May 2023 average of £356,000.

First-time buyer house price in Reigate and Banstead compared with the South East

Average house price for first-time buyers in May 2024

In comparison, home-movers in Reigate and Banstead paid an average of £544,000 in May 2024. This was slightly lower than £551,000 a year earlier.

In May 2024, the average price was £439,000 in the South East and £332,000 in Great Britain.

We do not produce figures for first-time buyer prices by type of property. Average house prices by property type for price paid data are available above.

Average house price for mortgage buyers fell slightly in Reigate and Banstead

The average price of a home bought with a mortgage in Reigate and Banstead was £468,000 in May 2024 (provisional). This was slightly lower than an average of £475,000 in May 2023 (revised).

Across the South East, the average price of a home bought with a mortgage was £384,000, in line with £381,000 a year earlier.

Across Great Britain, the average price for buying with a mortage in May 2024 was £297,000, which was up from an average of £290,000 in May 2023.

Price paid when buying with a mortgage or cash in Reigate and Banstead

Average house price in May 2024

For cash buyers in Reigate and Banstead, the average was £425,000 in May 2024 (provisional), which was down slightly from a revised figure of £433,000 a year earlier.

In May 2024, the average was £358,000 in the South East and £270,000 in Great Britain.

More data about Reigate and Banstead

Explore more local data for Reigate and Banstead.

More data on the housing market

This article is regularly updated with the most recent rents and house prices information. The full time series for rental prices can be found in our associated data releases. The full time series for house prices can be found in the UK House Price Index reports on gov.uk.

You can also read our most recent Private rent and house prices bulletin.

The methods used to produce the rental prices can be found in the Price Index of Private Rents Quality and Methodology Information. The methods used to produce the house prices can be found in the House Price Index Quality and Methodology Information.

About this article

The content in this article is generated using semi-automated journalism, based on rules pre-programmed by Office for National Statistics (ONS) staff.

This is a new product in Beta release, intended to improve the accessibility of housing market data at local level. Send us feedback about this page or contact the housing analysis team by emailing hpi@ons.gov.uk.

Articles are not available for Isles of Scilly and City of London, as the survey samples of the resident population are too small.

We will add Northern Ireland data to this tool following the release of more granular private rent price statistics for Northern Ireland, which we aim to do in March 2025.

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