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Published: 24 April 2025

What's Happening in the UK Property Market: April 2025

April kicked off with some big talking points in the UK property market. We are used to ups and downs in the property market but at present we seems to be in a balanced period.

Whether you're buying, selling, letting, or renting, here’s what’s been happening in recent times and what it could mean for you in our part of Surrey. At Nicholls Residential, we’re here to keep you informed with practical updates and local insights.

House Prices: Where Do Things Stand?

House prices across the UK have continued a slow but steady upward trend. According to the latest UK House Price Index from theOffice for National Statistics, the average UK house price in February 2025 (the most recent confirmed data) is showing a 1.8% increase year-on-year.

ONS House Price Index

Rightmove House Price Report – April 2025

Rightmove reports that the average asking price for homes entering the market in early April reached a record high of £377,182, driven by seasonal demand and improved confidence.If you're thinking of selling your home or exploring property for sale in our part of Surrey, this season offers one of the strongest windows of opportunity in recent years.

Mortgage Rates: Stabilising with Caution

Mortgage rates have settled somewhat following volatility in late 2024. As of early April:

• The average two-year fixed rate is 4.84%

• The average five-year fixed rate is 4.72%

These figures are down from the highs of over 6% seen last year and are giving more borrowers room to manoeuvre. Some high street lenders are even offering sub 4% deals for those with larger deposits.

Lenders are still cautious, so if you’re buying property in Surrey, it’s wise to secure a mortgage agreement in principle early to strengthen your position.

Sellers: A Seasonal Window of Opportunity

Spring traditionally brings a rise in new listings, and 2025 is no exception. Rightmove reports buyer demand is up 5% compared to April 2024, with more homeowners taking advantage of the seasonal surge in interest.

If you're considering selling your home in Surrey, pricing it correctly and ensuring it's market-ready will be vital. Call us to book a valuation.

Top tips for sellers:

• First impressions count – Fresh paint, tidy gardens, and welcoming entrances all help.

• Accurate valuations – Our team at Nicholls Residential can help set the right asking price based on current market trends in Surrey.

• Show it off – Use high-quality images, property tours and floorplans to capture attention online.

Speak to us - your local estate agent in Surrey - to discuss the best way to market your property this spring.

Buyers: Be Prepared to Move Quickly

Buyers are feeling cautiously optimistic. With wages on the rise and inflation softening, affordability is gradually improving. According to Nationwide, earnings are now outpacing house prices in many areas.

If you’re looking to buy property in Surrey, here’s how to get ahead:

• Sort your finances early – A mortgage in principle puts you in a stronger negotiating position.

• Be ready to move – In-demand homes are still selling fast, especially when priced correctly.

• Think about long-term value – Energy efficiency, location, and futureproofing are all worth factoring in.

We’ve got a range of properties for sale in our part of Surrey. View our current listings or speak with one of our team.

Rental Market: High Demand, Some Cooling on Prices

The rental sector is still feeling the pressure of high demand, though growth in rents is now stabilising after some big rises in recent years. According to the Office for National Statistics, the average UK rent in March 2025 shows a 7.7% rise over the past 12 months.

For landlords in Surrey, it’s a market full of opportunity - but also one that demands careful management and awareness of legislative updates.

With the Renters' Rights Bill due to become law later this year, the way tenancies are managed will soon look quite different. Proposed changes include:

• Abolishing fixed term assured tenancies

• All tenancies becoming periodic

• Four-month notice periods for landlords regaining possession to sell

• Limit of one rent increase per year

If you’re a landlord in Surrey, Nicholls Residential can help you keep your property compliant and your tenancies running smoothly.

What’s Next for the Property Market?

The rest of Spring is expected to bring solid levels of market activity. We could see continued house price growth over the next few months. Nationwide is forecasting a 2–4% increase in 2025 if inflation remains controlled.

Lettings will stay competitive, and legislation will continue to reshape landlord responsibilities. Staying informed, prepared, and adaptable will be the key to success.

Looking for Help?

Whether you’re buying, selling, letting or renting in our part of Surrey, Nicholls Residential is your local expert. Our team is here to support you through every stage of your property journey.

Call us or email (This email address is being protected from spambots. You need JavaScript enabled to view it.) to get started.

Epsom Office - 01372 730111

West Ewell Office - 0208 786 7879

Chessington Office – 0208 391 1110

North Cheam Office – 0208 644 3480

We know property better than anyone and are proud to be a trusted estate agent in Surrey. We look forward to hearing from you!

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Published: 28 March 2025

If you’re trying to sell a property in our part of Surrey that is run-down and dilapidated ( a doer-upper!) you might be wondering how best to go about marketing it.

• Do you need to do the repairs first?
• Or can you sell your home as-is?
• What impact will it have on the value of the property?

Our expert team here at Nicholls Residential are very experienced in selling properties that require renovating, so here is some helpful advice.

Do Run-Down Houses Sell?

While you may be worried that your property won’t sell, in reality, this isn’t the case. Properties in very poor condition will find buyers, although it’s important to have realistic expectations in terms of the sale price and speed.

Which Audience Should I Market To?

Knowing who to target is essential when selling pretty much anything, and it’s especially true when it comes to selling a run-down property. Although many prospective buyers want to move into a home that requires minimal work, there will always be a percentage of the market actively seeking homes that require updating. Targeting the right buyers is essential.

Should I Do Any Repairs Before Selling?

If you want a speedy sale or do not wish to carry out repairs, there’s no need to action them before putting your home on the market, especially if the works required are major. Small repairs, though, may be worth doing, especially if they involve boosting your property’s value and appeal. Other works may be costly but add no real value. We, at Nicholls Residential, will be able to advise you on what works should be carried out and what does not need to be done.

To find out more about selling your run-down home, don’t hesitate to call us or drop us an email at This email address is being protected from spambots. You need JavaScript enabled to view it.. We’re looking forward to helping you find the perfect buyer.

Chessington Office    0208 391 1110

West Ewell Office   0208 786 7879

Epsom Office   01372 730111

North Cheam Office   0208 644 3480

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Published: 07 February 2025

Stamp Duty Land Tax (SDLT or Stamp Duty) rates are changing from 1st April 2025, when the temporary increases to the thresholds that were put in place in September 2022, are due to come to an end. Whilst this change will impact everyone planning to move, it's first-time buyers who will be the most affected.

Stamp Duty is one of the most significant costs to consider when buying a property. Whether you're considering a move or just staying informed, this guide will bring you up to speed on the latest rules, offer useful tips, and help you make the best financial decisions when buying property.

What Is Stamp Duty and Why Is It Important?

Stamp Duty Land Tax (SDLT) is a tax that buyers pay on property or land purchases over a certain value in England and Northern Ireland. Scotland and Wales have separate taxes. This tax applies to both freehold and leasehold properties and includes cash and mortgage purchases. For most property buyers, Stamp Duty is an unavoidable cost, so knowing the rates and potential exemptions can save you money and ensure you're financially prepared.

The amount of SDLT liability depends on several factors, including (but not limited to) whether a buyer is:

• A UK resident
• Purchasing a property as an individual or company
• A first-time buyer
• Replacing a main residence
• Purchasing additional property

Why is stamp duty changing?

In September 2022, the then Conservative Government announced a temporary change to stamp duty, lowering the upfront costs of moving home. The aim of this was to support the housing market, the jobs and businesses that rely on it, and those who were hoping to get on the housing ladder. Whilst this measure was initially announced as a permanent change, at the Autumn Statement 2022, the government announced that the increase in the residential nil-rate threshold will end on 31 March 2025.

How is stamp duty changing?

From 1st April 2025, there will be several changes coming into effect:

• The nil rate threshold which is currently £250,000 will return to the previous level of £125,000.
• The nil rate threshold for first-time buyers which is currently £425,000 will return to the previous level of £300,000.
• The maximum purchase price for which First-Time Buyers Relief (a reduced stamp duty rate) can be claimed is currently £625,000 and will return to the previous level of £500,000.

The below table shows the current stamp duty rates for main residences in England:

*The figures are based on a standard residential purchase of a freehold property, which is to be a main residence for an UK resident.

From 1st April 2025, the stamp duty rates will be:

To stay up to date with any future changes to the UK stamp duty charges visit the UK government website.

How can I beat the stamp duty changes?

To take advantage of the current stamp duty rates you’ll need to have completed on your property purchase by 1st April 2025. Whilst this date might seem quite far away, the average time to complete a house purchase in the UK is between 12 and 16 weeks and can take longer in certain circumstances.

How will the stamp duty changes affect first-time buyers?

These stamp duty changes are likely to have the most impact on first-time buyers. By reducing the nil rate threshold by £125,000 and reducing the maximum purchase price for which first-time buyers’ relief can be claimed by the same amount, it could make it even harder for some first-time buyers to get onto the property ladder.

From 1st April 2025, first-time buyers won’t pay stamp duty on properties up to only £300,000, and they’ll only get first-time buyers’ relief on properties up to £500,000 (5% on properties £300,000 to £500,000).

Whereas, currently, if you’re a first-time buyer you don’t pay any tax on properties up to £425,000, and if the cost of the property you’re buying is up to £625,000 you’re also eligible for discounted rates (5% on properties from £425,001 to £625,000).

Current first-time buyer stamp duty rates:

For example, if you’re a first-time buyer looking to buy a £525,000 house in England, you’ll start paying SDLT at £425,000. Your total charge would be £5,000.

First-time buyer stamp duty rates from 1st April 2025:

For example, if you’re a first-time buyer looking to buy a £400,000 house in England, you’ll start paying SDLT at £300,000. Your total charge would be £5,000.

How will the stamp duty changes affect second home purchases?

As of 1st April 2025, there will be an extra band added into the stamp duty thresholds for additional property purchases, reflective of the general stamp duty changes.

The below table shows the current stamp duty rates for additional properties in England: 

From 1st April 2025, the stamp duty rates will be:

What Next?

Whether you're a first-time buyer or an experienced property owner, it’s essential to stay informed about Stamp Duty changes. At Nicholls Residential, we are committed to guiding you through each step of the buying process and helping you make informed decisions.

Ready to make your next move?

Planning to buy or sell a property?

Contact Nicholls Residential today on any of the below numbers or email This email address is being protected from spambots. You need JavaScript enabled to view it. for personalised advice.

Chessington Office 0208 391 110

Epsom Town Centre Office 01372 730 111

West Ewell Office 0208 786 7879

North Cheam Office 0208 644 3480

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Published: 28 January 2025

Good Question! But There Are Many Factors To Keep In Mind

It isn’t surprising that many sellers choose to use the estate agent that gives them the highest valuation for their property.

But is that always the best decision?

It may seem like a no-brainer to go with the estate agent that is giving you a valuation figure far above the others. There are important factors to keep in mind before you make your final decision. The team at Nicholls Residential want you to know how crucial it is to understand the importance of a correct valuation. We want to help you make a properly informed choice when you are selling your home. Of course here at Nicholls Residential we do our utmost to achieve the best possible price from the best possible buyers for our sellers. This is a responsibility that we take very seriously.

An Overvaluation May Make Your Property Become 'Stale'

Some estate agents are prepared to do whatever it takes to get new business, including overpricing properties to persuade sellers to take up their services. We totally understand that it’s very tempting to choose the estate agent that suggests you list at a high asking price. But remember that if they have overvalued your home it could sit for months on the market without any buyers showing interest – essentially, it becomes a stale property. Eventually, you’ll have to reduce your asking price to sell your home and that never looks good to prospective buyers.

The Importance Of Price Banding

All prospective property buyers have a budget that they’ve set for themselves, and will only view properties fitting into that criteria, usually with a small buffer margin just in case. When a property is overpriced, you’ll miss out on prospective buyers who are searching for a house just like yours but who never see it in their searches because it’s been valued above their maximum budget limit.

A correct valuation, on the other hand, will bring your home within the budget of more potential buyers, and if there’s enough interest you could find that your property is the subject of a bidding war where purchasers are prepared to push their financial boundaries just to secure your property. This approach could see you getting a higher sale price for your home than you would have if you’d gone for the higher valuation in the first place.

Getting An Expert Appraisal

It couldn’t be more important to choose a reliable firm of estate agents like Nicholls Residential when listing your property for sale. A trustworthy company will always be honest, transparent, straightforward and will use their local knowledge, alongside information about the current property market conditions, to give you the most accurate and realistic valuation for your home.

Get Help

To find out more about our property valuation process and to learn how we can help you find the perfect buyer for your home, call our team today on any of the numbers below or send us an email to This email address is being protected from spambots. You need JavaScript enabled to view it.. We look forward to working with you to sell your property.

Chessington Office 0208 391 110

Epsom Town Centre Office 01372 730 111

West Ewell Office 0208 786 7879

North Cheam Office 0208 644 3480

Local, Independent and Proud