New figures have revealed the Sutton roads in which the most expensive homes were bought during 2024.
According to data from the HM Land Registry and Property Solvers, the average house price in Sutton is £467,130.
However, some properties ended up being bought for much more than that, with the highest being a whopping £2million.
Over the past five years, the average property price increased by £62,096 (15.04 per cent) and rose by £12,442 (2.69 per cent) in the last 12 months.
In the past year, there were 562 residential property sales, a decrease of 219 transactions (-38.97 per cent) compared to the previous year.
Most house sales (155) were in the £240,000 - £350,000 range, followed by 114 sales in the £350,000 - £460,000.
Below are the Sutton roads where the most expensive properties were bought in 2024:
Warren Avenue, Cheam (SM2 7QL): £2,150,000
The Avenue, Cheam (SM2 7QA): £2,060,000
Sandy Lane, Cheam (SM2 7ER): £1,862,500
High Street, Sutton (SM1 1LW): £1,760,000
The Dene, Cheam (SM2 7EG): £1,605,000
Sandy Lane, Cheam (SM2 7NR): £1,562,500
Grove Road, Sutton (SM1 2AP): £1,499,000
The Downsway, Sutton (SM2 5RL): £1,490,000
The Highway, Sutton (SM2 5QT): £1,460,000
Sandy Lane, Cheam (SM2 7EP): £1,446,200
The majority of these properties bought in January, with only one (High Street) being sold towards the end of the year.
Although a property on Warren Avenue was bought for £2,150,000, it isn’t Sutton’s most expensive neighbourhood.
That title belongs to Carshalton Beeches & Banstead Road, where the median house price fell at £843,000, roughly £1 million less than the property on Warren Avenue.
Mortgage rates are expected to drop to about 4% by the end of 2025, which should lead to a stronger housing market.
Buyers will likely have more negotiating power, especially with more homes available than in the past decade.
Tim Bannister from Rightmove said: “We think 2025 will continue to be a buyer’s market, providing some breathing room for buyers to find the right home at the right price.
“However, attractive homes in popular areas are still being snapped up quickly.”
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