- The average price of a prime property (£1m+) in the Home Counties varied by a staggering £200,000 between the most and least expensive counties
- Average price reduction of £150,000, with homes in Kent seeing discounts of nearly 10% in 2024 compared to around 8% in Hertfordshire
- Over 22,000 houses were listed above £1m in the Home Counties last year. Nearly a quarter were in Surrey (5,540), with the lowest number of listings recorded in Oxfordshire (1,491)
- There is evidence of increasing variations in market, with properties in Kent taking 121 days to sell, five weeks longer than those in Surrey and Hertfordshire
Investec Bank plc (Investec), a leading international financial services provider, reveals the latest findings from its annual Property Index*, which shows significant variations in property prices across the Home Counties, with a £200,000 gap between the most expensive county, Surrey (£1.55m), and the least expensive, East Sussex (£1.35m).
On average, property prices in the Home Counties fell by 9% in 2024, equating to a saving of £150,065 compared to their initial listing price. Kent reported the largest average percentage discount at 9.7%, with Berkshire falling by over £160,000 and Oxfordshire by £157,000.
Average price reduction by percentage and value of £1m+ homes:
% | £ | |
---|---|---|
Greater London | -9.92 | 200,100 |
Berkshire | -9.45 | 160,060 |
Oxfordshire | -9.26 | 157,236 |
Kent | -9.72 | 156,344 |
West Sussex | -9.38 | 155,259 |
Buckinghamshire | -8.92 | 149,545 |
Essex | -9.49 | 149,154 |
Surrey | -8.73 | 148,198 |
East Sussex | -9.49 | 141,458 |
Hertfordshire | -8.32 | 133,333 |
Buyers seeking to leave London to gain more space could potentially double the size by moving to the Home Counties, with the greatest value to be found in nearby Essex, Kent and West Sussex.
Average Price per Square Foot of £1m+ Homes:
Greater London | £1,299 |
Surrey | £593 |
Hertfordshire | £579 |
East Sussex | £574 |
Oxfordshire | £574 |
Berkshire | £551 |
Buckinghamshire | £548 |
Kent | £521 |
West Sussex | £521 |
Essex | £501 |
Reflecting the great value on offer in the Home Counties, the survey reveals that properties sold quickly across many counties. In Surrey and Hertfordshire, homes sold in an average of just 86 days, despite these areas having the highest levels of new listings (5,540 in Surrey and 3,079 in Hertfordshire). This rapid turnover means buyers must act swiftly to secure their ideal home.
Average Time Taken to Sell a Property Over £1m:
Kent | 121 |
Buckinghamshire | 108 |
Berkshire | 106 |
Essex | 99 |
West Sussex | 95 |
Oxfordshire | 94 |
East Sussex | 89 |
Hertfordshire | 86 |
Surrey | 86 |
Carlos Mendes, Private Banker at Investec, commented:
“A move to the Home Counties gives buyers the opportunity to maximise the size of their property, often gaining over double the square footage of London properties for the same money. It’s clear that buyers were able to secure some great deals last year, with average reductions of over £150,000 compared to their initial listing price. But those considering a move need to act quickly with properties often selling quickly, with those in Surrey and Hertfordshire selling in a little over 12 weeks despite there being a large number of properties available in these counties.”
The analysis, conducted from 1 December 2023 to 1 December 2024, focused on prime residential properties listed for over £1 million across the UK’s Home Counties, including Essex, Hertfordshire, Buckinghamshire, Oxfordshire, Berkshire, Surrey, Kent, West Sussex, and East Sussex.
Investec offers a range of private bank accounts for clients earning at least £300,000 a year and with a minimum net worth of £3 million. Clients are looked after by a dedicated private banker who can provide tailored banking, borrowing, savings solutions, or foreign exchange. Investec looks at income levels holistically, considering more than just a basic salary, and often incorporates bonuses, carried interest, or income from profit shares in its calculations. Investec’s relationship-led approach and in-house specialists mean that it has been known to provide a lending decision and loan amount within days.
Investec provides mortgages for both residential and buy-to-let properties, which are tailored to each client’s needs, whether it is replacing an existing mortgage or obtaining a loan against a new property. Individuals do not need to have a savings or investment portfolio with us to apply for a mortgage.
*Property market data was provided by Homesearch Limited.
Property market trends were determined by analysing online listings from 1 December 2023 and 1 December 2024. Prime properties were identified as those listed for sale for more than £1m.
This index compares the performance of the property market in Greater London and nine Home Counties: Essex, Hertfordshire, Buckinghamshire, Oxfordshire, Berkshire, Surrey, Kent, West Sussex and East Sussex.
For further information, please contact:

Charles Clarke
Head of Business PR