May 11th 2024.
The town of Walton-on-Thames in Surrey has been receiving a lot of attention lately for its peaceful atmosphere. Despite the ongoing rental crisis in Britain, this small town has seen a staggering increase of 34.6% in its rent prices according to new data from Rightmove. In fact, it has surpassed popular commuter towns like Reading, Hertford, and Watford in terms of rental growth.
It's no surprise that there is a high demand for properties in Walton-on-Thames, with the average rent rising from £1,521 in the first quarter of 2023 to £2,048 in 2024. This increase can be attributed to the influx of Londoners who are now looking for homes outside of the capital. However, they should be prepared to pay more for rent than in previous years.
But amidst these shocking figures, there is a glimmer of hope. While rents continue to climb, there is evidence that tenant affordability is being severely tested. Rightmove has reported a five-year high in rental price reductions, but unfortunately, letting agents are still struggling to meet the high demand. Tim Bannister, Rightmove's director of property science, warned that even with some improvements in the supply of rental properties, we are still far behind the pre-pandemic levels by almost 50,000 properties.
So what makes Walton-on-Thames such a desirable location? Let's take a closer look. This charming town is located in northwest Surrey, in the borough of Elmbridge. It is part of the Greater London Urban Area, just outside the boundaries of London and to the west of the borough of Kingston-on-Thames. While it takes just over an hour to drive to central London, many commuters opt for the fast train which only takes 32 minutes on average according to Trainline.com.
Aside from its convenient location, there are plenty of things to do in Walton-on-Thames. The town boasts a variety of local shops and restaurants, including the popular countryside pub, Anglers. One satisfied customer on Tripadvisor described it as an amazing location next to the Thames, perfect for a relaxing riverside walk before or after a meal. Other popular spots include Sunbury Lock on the River Thames, The Heart Shopping Centre, and the Everyman Cinema on the high street.
For those looking for more activities nearby, Chessington World of Adventures in London, Mercedes-Benz World in Weybridge, and Hampton Court Palace are all within close proximity to Walton. It's no wonder that Londoners are flocking to this town in search of a quieter lifestyle.
But what is it about Walton-on-Thames that makes it so appealing to Londoners? According to Reddit users, the town is known for its peaceful and family-friendly atmosphere. One user even asked locals about the town's multicultural community and safety, to which they received positive responses. However, some did mention that the commute can be challenging due to the busy train line, and suggested considering the neighboring town of Weybridge instead as it has a nicer town center.
Surrey has become a popular destination for ex-Londoners, with Epsom topping the list as the area with the highest influx of former city dwellers. Despite being labeled as "bland" and "grim" by some, it seems that its peaceful atmosphere and convenient location are highly sought after by those looking to escape the hustle and bustle of the city.
It's not just Walton-on-Thames that is seeing a rise in rent prices. The average rent outside of London has reached a record high of £1,291 per calendar month, an 8.5% increase compared to last year. In the capital, the average rent has also hit a new high of £2,633 per calendar month. However, the growth in rent prices has slowed down since its peak in 2022.
Here are the top 10 places outside of London with the highest average rent increases:
1. Walton-on-Thames, Surrey - £2,048
2. Batley, West Yorkshire - £846
3. Coventry, West Midlands - £1,011
4. Reading, Berkshire - £1,600
5. Ascot, Berkshire - £1,838
6. Bootle, Merseyside - £721
7. Hertford, Hertfordshire - £1,526
8. Southampton, Hampshire - £1,295
9. Watford, Hertfordshire - £1,824
10. Paisley, Renfrewshire, Scotland - £797
Are you thinking of moving to Walton-on-Thames or any other town outside of London? Share your story with us by emailing us at email. We'd love to hear from you!
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