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PRIME
The prime residential market has enjoyed a buoyant start to 2024. According to the latest Rightmove House Price Index, market activity in the largest homes, top-of the-ladder sector has seen the biggest growth nationally. The number of new sellers in this market is up 18% compared to last year and the number of agreed sales for large homes is up 20%. This sector has also seen the strongest start to the year for price growth since 2014.
It’s a similarly positive story for the prime market in Surrey and South West London, with an activity-packed first quarter. At Curchods we have agreed the sales of several exceptional properties already in 2024 and we continue to lead the market. Having successfully agreed the sales of more properties above £1million than any other estate agent in both 2022 and 2023, we began 2024 in the same vein – agreeing the sale of more of these properties in the first quarter than any other estate agent. Our success is amplified in Elmbridge, where we boasted a market share of 28% for sales agreed above £1million and 36% above £2million.
The next quarter is a pivotal time of year in marketing terms as prospective purchasers typically hope to be settled prior to the summer holiday period. Compounding this traditional seasonal market shift, 2024 sees a busy summer of sporting events, followed by a likely General Election – distractions which could delay prospective purchasers’ appetite to secure a move. Therefore, if you’re thinking about selling your property in 2024, now is the time to consider your next move. The market is buoyed by an uplift in activity and there’s increasing urgency to secure a move.
We have always been prolific in the upper end of the Surrey market, especially in Elmbridge. Our success and market growth in the prime sector sparked the launch of Curchods Prime in 2021. Since then, we’ve maintained our market leading position for consecutive years, growing our market share, and 2024 has seen our Prime proposition expand further.
The rebranding of Burns & Webber has seen Curchods Prime expand south into Guildford, Farnham, Godalming and Cranleigh, with a new Prime Partner, Jordan Sturgess, joining the team. Expanding our reach in the opposite direction, we’ve recently agreed a partnership with James Pendleton Estate Agents who, combined with our Curchods offices in Teddington, Kingston and New Malden, extensively cover the South West London prime marketplace.
Speaking of the team, we have some of the most experienced and successful estate agents in Surrey and I thought I’d end this prime market update with a special mention for one in particular. Our resident St George’s Hill expert and Prime Partner, Andrew Grant who, as well as securing the sales of several prime properties on the renowned private estate, recently won an award for Best Estate Agent in the United Kingdom at the 2023/2024 International Property Awards.
