The average Elmbridge home gained £13,838 in the year to July, its strongest rise since July 2025, while Surrey as a whole fell 0.4%. Flats went the other way.
The average home in Elmbridge was worth £748,080 in July 2026, which is £13,838 more than a year earlier. That is a rise of 1.9%, and it is the strongest annual gain the borough has recorded since July 2025.
It also ends a run. In the eleven months before this one, Elmbridge’s annual change was negative nine times, flat once and positive once, by 0.1% last December. The figures come from the Land Registry UK House Price Index, which is built from completed sales rather than asking prices.
Two things stop this being a recovery story.
It is still short of the 2022 peak, nearly four years on
Elmbridge’s highest recorded monthly average was £761,405 in November 2022. July 2026 is £13,325 below that, which is most of a decade’s worth of inflation into the gap and almost four years of waiting.
The borough also peaked again more recently, at £759,543 in June 2025, before falling away through the autumn to a low of £716,372 in October. July’s figure has not got back to either.
Surrey as a whole is still falling
The county average fell 0.4% over the same twelve months. Elmbridge sits in the half that rose, but only just, and the spread across the eleven districts is wide: nine and a half percentage points separate Surrey Heath from Tandridge.
Elmbridge remains the county’s dearest district by a distance. The next one down is Epsom and Ewell at £568,214. Across the boundary, Richmond upon Thames is the only nearby place that is more expensive, at £803,249, and Richmond fell 0.8% over the year.
For scale: the England average in July was £293,479. The average Elmbridge home is worth 2.5 times the average English one.
Detached homes did the lifting, flats did not
Every property type in the borough rose over the year except one.
| Property type | Average price | Change over 12 months |
|---|---|---|
| All property types | £748,080 | +1.9% |
| Detached | £1,593,107 | +3.7% |
| Semi-detached | £725,898 | +2.6% |
| Terraced | £580,978 | +2.3% |
| Flat or maisonette | £353,544 | −1.0% |
| First-time buyer | £501,153 | +1.3% |
Flats fell 1.0% to £353,544. The average Elmbridge flat is worth £3,606 less than it was in July 2025, when it stood at £357,150.
Detached homes went the other way, adding £57,182 in a year to reach £1,593,107. A detached house in the borough is now worth 4.5 times a flat. In July 2025 the multiple was 4.3.
That gap is the story underneath the borough average. Elmbridge’s headline figure rose because the expensive end of its market rose, not because the whole market did.
The first-time buyer average is £501,153, up 1.3% on the year. It is back above £500,000 after dipping under it in June.
A note on the figures we published last month
The UK House Price Index is revised as more sales complete, and two of our own figures have moved since we printed them.
- We reported June 2026 as £743,525, down 2.1% on the year. The index now gives June as £742,760, down 2.2%.
- Our house prices page gave May 2026 as £750,157. The index now gives May as £744,372, a downward revision of £5,785.
Nothing was wrong at the time. It is worth knowing that any single month in this index is provisional, and that the most recent month is the one most likely to change.
What it means for you
If you are selling. The borough average moving up 1.9% does not mean your home did. Detached stock is carrying the figure. If you own a flat, the index says your asset went backwards over the year, and it has been going backwards for two.
If you are buying. Flats are the only part of the Elmbridge market that is cheaper than it was a year ago. And there is a threshold worth knowing about. First-time buyers’ stamp duty relief pays nothing up to £300,000 and 5% on the portion from £300,001 to £500,000, but the relief cannot be claimed at all if the price is over £500,000. The Elmbridge first-time buyer average is £501,153. The typical first purchase in this borough is, on average, £1,153 the wrong side of that cliff edge.
If you are watching your council tax. Bands are still set on 1991 values and do not move with this index. Our council tax bands page has the 2026/27 figures for all eight bands.
One caution on the number itself. UKHPI is a mean average, not a median, so a handful of very large Elmbridge sales pull it upwards. It is also mix-adjusted across the whole borough, and Elmbridge is not one market: the median sold price in Oxshott is more than two and a half times the median in Walton-on-Thames. Our house prices page breaks the borough down by place.
Sources
- HM Land Registry, UK House Price Index, Elmbridge, July 2026 for the £748,080 average, the 1.9% annual and 0.7% monthly change, the breakdown by property type and the first-time buyer average.
- HM Land Registry, UK House Price Index, Elmbridge, July 2025 for the £734,242 comparison, the £357,150 flat average and the £1,535,925 detached average a year earlier.
- HM Land Registry UK House Price Index monthly series for Elmbridge, December 2009 to July 2026, for the £761,405 November 2022 peak, the £716,372 October 2025 low and the run of annual changes.
- HM Land Registry, UK House Price Index, Surrey, July 2026 for the county’s 0.4% fall, and the eleven individual district releases for the same month for the comparison chart.
- HM Land Registry, UK House Price Index, England, July 2026 for the £293,479 England average.
Have your say