Where will property pricing in Purley go next?
I believe that nobody can really answer this question. According to Rightmove, house prices in Purley have had an overall average of £595,138 over the last year, with detached properties being sold for an average price of £896,136, semi detached homes for £636,942 and flats for £301,608.
Overall, the historical sold prices in Purley over the last year were 7% down on the previous year and 7% up on the 2022 peak of £555,805.1
According to the Land Registry data in January 1995 the average house price in Surrey was £103,569 for all property types and £88,414 for semi detached homes.2 But do you think we will see this same growth in the next 30 years?
Although Purley has seen a decrease in property values, in the last year places further afield are still seeing good growth, in fact it has been reported in Scotland that growth in property value has risen by nearly 28% in five years.3 The question is will this keep on increasing now that flexible working is possible for some?
In recent years we have seen the bank rate fall, it had risen sharply from 0.10% in March 2020, to 5.25% in August 2023, since then it has come down to 4.25% in May this year, but at the same time we have seen an increase in stamp duty so it is difficult to predict how both of these factors will affect the housing market.
However, I find that people often forget that when you buy a property you are also buying a life for yourself, buying a property in Scotland will give you a very different life from buying one in Purley and this should be your starting point, deciding what kind of life you really want.
If you would like to discuss this further why not pick up a phone and book a free without obligation consultation.
1 Rightmove online, 15/07/2025
2 Home.co.uk, 15/07/2025
3 Property118.com, 6th March 2025