Global Apartment Advisors’ latest Market Spotlight turns its attention to Surrey, underlining the commuter county’s growing appeal for investors.
Global Apartment Advisors (GAA) has published the latest instalment in its Commuter Series, casting the spotlight on Surrey. Known for its leafy landscapes, vibrant towns and enviable transport links to London, the county is increasingly recognised as one of the South East’s most attractive property markets.
Economic Growth and Demographic Momentum
The report highlights Surrey’s strong economic base and demographic appeal. Employment across the county grew by 2.63% in the decade to 2021, with an employment rate now at 83%. Disposable incomes have also surged, rising by 35% across key districts such as Woking, Guildford, Elmbridge, Spelthorne, and Reigate & Banstead. Average household disposable income increased from £22,803 to £30,823 during the period, reflecting the county’s growing affluence.
Population growth adds further weight to the investment case. Between 2001 and 2023, Surrey’s key districts experienced an average increase of 17%, led by Reigate & Banstead with 23.1%. Housing supply has expanded to meet demand, climbing from 444,000 dwellings in 2001 to 521,000 in 2024. Yet the pace of construction — around 3,000 new homes per year — has not kept up with demand, sustaining pressure on both sales and rental markets.
Rental Market Strength
Rising demand is particularly evident in the rental sector. Across Guildford, Elmbridge, Woking, Staines and Redhill, average rents for studios and one- and two-bedroom apartments have grown by 5% over the past year. Studio rents now range between £1,044 and £1,289pcm, while one-beds command £1,227 to £1,424pcm, and two-beds between £1,577 and £1,777pcm. Demand traditionally peaks in January, July and September.
The Build to Rent (BTR) sector is playing a growing role in meeting demand. Purpose-built schemes are adding high-quality, professionally managed stock to the market, catering for young professionals, families and students seeking convenience, amenities and well-located homes. GAA’s report argues that Surrey is well placed for further BTR expansion, given its mix of affluent commuters and growing local populations.
Spotlight on Staines and Walton-on-Thames
Two locations in particular stand out for their investment credentials: Staines and Walton-on-Thames. Walton Court, a development by GAA’s sister company CompassRock International, exemplifies the potential of the latter. Delivered in 2023, the scheme offers 178 apartments and penthouses within minutes of the station, where trains reach London in 25 minutes. Residents benefit from premium facilities including a rooftop terrace, gym, co-working hub, residents’ lounge and chef’s kitchen, alongside a strong local community and retail offering.
Outlook for Investors
“Packed with affluent commuters and offering a rich cultural landscape, Surrey boasts strong rental demand and a notable shortage of housing stock,” said Ronak Rawal, Senior Director at GAA. “Our Surrey Market Spotlight highlights the compelling case for Build to Rent investments in the county over the coming years.”
The Surrey Market Spotlight is available to download free of charge at www.gaaliving.com
