Surrey holds its station as the UK's top property hotspot

 

Liam O'Brien
Wednesday 06 June 2012 17:41
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It's the county that some of the UK's best-known business moguls, Premier League footballers and entertainers call home, so it comes as no surprise that Surrey has been declared the UK's richest property hotspot.

The county, whose constituencies represent some of the safest Tory seats in Britain, represents just over five per cent of the UK's overall £5.6trillion property wealth. The combined value of its homes totals £288bn. Surrey also has the largest property wealth per head, standing at £255,125 according to property website PrimeLocation.

Among Surrey's star residents is Formula One boss Ron Dennis, who was rumoured to have upgraded to a £30m mansion in Wentworth Estate last year, and showbiz knights Bruce Forsyth and Cliff Richard.

Property analyst Nigel Lewis said the reason so many of the country's top postcodes are situated in Surrey was down to an easy commute into the centre of London. "The recession made property in Surrey a little bit more affordable, but it continues to be exceedingly expensive because of its transport links to London. People pay over the odds even though they could get a similar property in Buckinghamshire at a lower cost. Homes in and around the capital will always be sought-after because of the increased population density in the South and its better employment opportunities. The only other area where celebrities like to congregate is north London, with the BBC and football grounds nearby."

Elsewhere on the list, whose top 10 is dominated by southern counties, Dorset comes second with a property per head value of £207,220, and Buckinghamshire places third with £198,490.

But their wealth is dwarfed by that of Surrey, which routinely tops lists of this type and has pulled away from its rivals over the past five years.

Another survey this year claimed Virginia Water was the UK's number one hotspot for property millionaires, with 48.5 per cent of all homes valued at £1m or more.

Surrey also boasts the UK's most valuable addresses outside of London. The average home on Leys Road, Oxshott, costs £3,108,000.

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