Guildford the county town of Surrey is an affluent area. And according to a recent survey by UK Vitality Index, it has the best economic prospects outside London.
The results rank each location in six categories: most productive, fastest-growing, most entrepreneurial, best educated, greenest and most affluent. Guildford ranked in first place for driving economic growth and as the area with the strongest and most robust economy, offering businesses and investors opportunity for development, expansion, and growth.
Guildford’s main attributes were listed as its high level of affluence, low levels of unemployment and high-status educational offering.
The town is located just 27 miles south-west of London on the A3 trunk road, halfway between London and Portsmouth, it is situated in beautiful countryside. This market town boasts the likes of Hugo Boss, Armani Exchange, Gant, and House of Fraser in it retail suppliers. The population of the borough was 137,200 at the 2011 census which was an increase of 5.7% in the last ten years.
Guildford’s connectivity is excellent being located just nineteen miles from London Heathrow Airport, the UK’s busiest airport and a major employer in the districts. Heathrow, with some 76,600 staff employed directly and indirectly as many as 116,000 in the immediate area, makes Guildford a great location from the perspective of a property investor.
The property market in the district is booming, with the cost of residential property in the area being above both the national and regional average, however, Guildford is still 15% cheaper than nearby Shalford and 20% cheaper than Merrow. Prices have risen 12% in the last year.
There are many employers in Guildford mainly in IT and research and development. BAE systems cyber securities, Lifespan the UK’s largest private provider of CT scans and BOC the bottled gas and chemical company are all based within Guildford. That means Guildford property investment is ideal a commuter belt property.
Economy & Employment
Surrey Satellite Technology Limited (SSTL) is the world’s leading small satellite company, delivering operational space missions for a range of applications including Earth observation, science, and communications. The Company designs manufacture and operates high-performance satellites and ground systems for a fraction of the price normally associated with space missions, with 600 staff working on turnkey satellite platforms, space-proven satellite subsystems and optical instruments.
Supporting and accelerating early stage, high-growth, and innovation businesses since 2002. The Surrey Tech Incubator is a member of the SETsquared Partnership and grown businesses from across several key areas – Digital, Engineering, Finance, Health, ICT, Mobile Communications etc.
Surrey Connects is an independent, business let economic development company working in partnership to stimulate enterprise growth across Surrey.
Redevelopment of Guildford’s town centre is under discussion.
Proposed investment and redevelopment of the town centre were recently discussed, which aim to increase and enhance its retail, residential and office space. Planning growth to share skills, resources, and effort with many partners and to deliver wide economic and social benefit.
Experience Guildford is the town’s business improvement district. They are delighted to see Guildford highlighted as a beacon for economic strength and growth. Having in the past few years attracted leading brands and businesses to the town centre Guildford’s position is strengthened for future investment.
Guildford Borough Council has made clear that its strategy for the future is for ‘smart economic growth’, driving growth through improved productivity, research, innovation, and creativity.
Developments Map View
Properties in Guildford had an overall average price of £631,833 over the last year.
Overall, sold prices in Guildford over the last year were 9% up on the previous year and 15% up on the 2020 peak of £549,503.
Detached properties sold for an average of £1,092,402, with flats fetching £312,027.
Most sales in Guildford during the last year were semi-detached properties, selling for an average price of £536,117