Post Covid, 2022 was another roller coaster year in the Guildford property market. The demand for property has been the highest I’ve seen in the town in my 20 plus years of being an estate agent here.

Records were broken in numerous Guildford streets and buyers experienced intense competition every weekend when viewing the week’s new listings. The same buyers reappeared each weekend to view my latest new listings saying they had been out bid repeatedly – sometimes half a dozen times over the summer.

Thankfully most people ended up securing their dream home, but in a number of cases did pay significantly over the guide price to do so. There’s still a good number of buyers after the fever pitch summer months. The Autumn has seen a calmer market due to the mini budget and the short sharp braking effect it had on the market . Quite a few buyers, who were unlucky over the summer have secured homes in this time.

As I write (mid-December), looking ahead, I am anticipating a traditional seasonal market, with very little stock but a good crop of sales going through before the end of January. The Chancellor’s Autumn statement seems to have had the desired effect of calming down the turbulent economic conditions and I believe the outlook will gradually improve as the measures take effect and the banks continue to recalibrate their interest rates.

So, what will 2023 hold for the property market in Guildford?

I will be asked this question a lot at gatherings over the festive period, so I’m well-rehearsed already. The answer largely depends on who is asking; buyer or seller.

To a buyer I would say: Don’t bank on the housing market crash which many are anticipating. If the economists are right, then this period of adjustment will be a short sharp shock but with a lack of supply and still a good demand from the endless supply of SW London buyers coming to the town to settle. Waiting for something that may not happen could be a risky strategy as we have seen over the last few years. Guildford is very much a place that people want to live because of its schools, amenities and countryside and that has not changed.

To a seller I would say: forget about what your neighbour sold for last year. The property landscape is very different now, but it’s still good. Don’t let that be the focus of your pricing strategy. Property prices are like the tide – going in and out over time. As long as you sell and buy in the same cycle, then the difference between your sale and purchase should tie up; albeit that the numbers may be a bit different. Make sure your property is market ready and looking its best. You may have to work a bit harder to attract the right buyer. Crucially though, if you own a property in Guildford, you can be assured it’s one of the most saleable assets you could possibly hold and people will want it. You just have to deal with the right estate agent – one who is genuinely acting completely in your best interests and takes it personally, like me!.