Woking Buy-to-Let Guide

As you may expect for a town in Surrey, Woking property prices are more expensive than the national average.

According to HM Land Registry UK House Price Index, the average property price in Woking was £485,104 as of December 2023. In sharp contrast, the average UK house price for the same period was £284,691.

By those metrics, Woking properties are just under 50% more expensive than the typical UK home.

Buy-to-let investors can expect to pay the following average prices for different properties.

• Detached: £1,009,733
• Semi-detached: £535,271
• Terraced: £421,097
• Flats and maisonettes: £277,572

According to Savills Residential Property Forecast, the South East region is expected to enjoy 17.6% capital growth. While this is better than the London region, it falls short of the total UK capital growth expectation of 23.4%.

Woking features a variety of investment property types, including detached properties, semi-detached properties, and flats. While these properties can be expensive, they are significantly less so than in nearby London, which means investors may be able to find better-value investment options in this area.

During the past year, most sales in Woking consisted of detached properties, which commanded an average price of £1,002,556. Semi-detached properties averaged £535,274 in sales, while flats were sold at an average of £279,573.

In general, Woking experienced a 4% increase in sold prices over the previous year and an 8% increase compared to the peak in 2021, which was £554,460.

Find Out More: If you’re interested in a southern UK property investment guide, check out our page on London property investments.

South of Woking, you’ll find Hook Heath, Maybury, Mayford, Old Woking, and Westfield. These residential areas are popular, offering easy access to Woking while maintaining a semi-rural feel. Worplesdon also hosts a train station. Property prices in these regions cater to various budgets, with Maybury and Old Woking presenting particularly good value options.

Heading west from Woking, you encounter Bisley, Brookwood, Knaphill, St. John’s, and Worplesdon Hill. These areas generally command higher prices, with some streets boasting properties valued at up to £2 million or more. Brookwood enjoys the convenience of a train station, providing quick 5-minute access to Woking and a 46-minute journey to London (London Waterloo).

Average Property Price in South & West Woking

The average property price in this area is £636,857.

Average Rental Yield in South & West Woking

The average rental yield in this area is 3.20%.

In recent years, Woking has experienced significant regeneration and development, enhancing its appeal for residents and businesses, which may bolster the property market in the future. The local authority has led an investment of over £2 billion into the area.

One notable project is Victoria Square, a dynamic mixed-use development featuring 10,000 sq.m. of fresh retail space, a brand-new Hilton hotel, modern city apartments, and vibrant public squares. The addition of new high-rise buildings has transformed the skyline, giving Woking a taste of a ‘mini Manhattan’.

However, Woking Council faces difficulty after accruing significant debt following a substantial investment spree, as reported in The Guardian. For this reason, investors may consider off-plan investment opportunities in other cities where the economy is less under scrutiny.

Convenient Access to London

Woking is conveniently placed for travelling into London, appealing to people who prefer to commute into London and enjoy the slightly cheaper properties.

The most common mode of transport is by train, with frequent services connecting the two cities. The journey takes approximately 25-40 minutes, depending on the type of train and specific destination within London. Woking’s well-connected railway station provides easy access to London’s major hubs, such as Waterloo, Victoria, and Paddington. Additionally, there are regular bus services and road networks for those preferring to drive.

Off-plan investment is an investment strategy that sees investors purchase property for a discounted price directly from the developer. These properties usually come with modern facilities and fixtures. They are built per the latest EPC regulations, appealing to tenants who want to save money on their energy bills.

Woking has enjoyed some off-plan developments, with new high-rise apartment buildings being constructed in recent years. However, if you’re looking for a wider variety of off-plan investment opportunities, you may want to turn your attention to some of the UK’s major cities, such as Liverpool and Manchester.