House prices in Epsom Downs double since 2000

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by Kay Murchie

Epsom Downs, an old market town in Surrey, has seen house price values grow by 53% since the start of the millennium, according to the Land Registry.

The area is renowned for the Derby horse race and has been the darling of the property market since prices recovered from their last bout of negative equity back in the 1990s.

According to Hamptons’ sales negotiator Patricia Carroll, the area is an all year round attraction. It is an old market town with good schools and shops and is just over half an hour from London by train.

The area boasts all the benefits of the countryside and offers picturesque Downs and the town is surrounded by greenbelt land which cannot be used for development.

Back in 2005, the town was crowned best place to live in Britain by Channel 4’s Location, Location, Location.

Property prices have fallen by a marginal 0.7% in the area.

Alex Herman of estate agent Knight Frank, said prices range between £2 million and £10 million for homes with lots of potential near the RAC Club, which has views of the racecourse.

Paul Milsom, from Fine & Country, said if you purchase a property that’s worth £1 million today close to the racecourse, it’s likely to appreciate to £2 million in 10 years.

However, according to estate agency Michael Everett, the over-supply of flats in the town centre should be avoided. Epsom proves endlessly popular across the board, but the current market is difficult. We are still receiving enquiries, said the agent, but for one-off, niche homes.

Kate Faulkner, a consumer property expert, says demand will always outstretch supply in the area. New-builds are few and far between so there has been no increase in housing stock to flood the market.