As context, we've lived in Reigate for about 8 years and I grew up in the area before that so know how the town has changed over the last 30 plus years.
It's expensive because it's lovely in a way that only a few towns in the south east are, and cheaper than London, so its affordable to those taking that particular route.
My wife and I bought our first place in London where we were working but it was a massive stretch so like so many others when looking to upsize to house a growing family, we couldn't make the jump in London. We didn't want anonymous suburbia, we wanted a place with character, where we could walk to shops, restaurants, a nice park, schools, supermarket and cinema. Reigate has all of that in spades and is set amongst some of the most beautiful countryside in the south-east.
Parking and traffic is an undeniable pain but by walking and having a small car we manage just fine. Really - people should stop buying such stupidly bloated cars and drive less. For our first two years there we were a member of a car-club. There was a zipcar in Reigate - I swear we were the only ones in town who used it so our very own VW Golf and a guaranteed parking space for £6 a month.
We were hideously naive about schools however, but our kids got into all the ones we wanted (via stressful waiting lists a couple of times, so I don't want to underplay it too much), and the schools really are excellent. Our eldest went to Holmsdale, and our youngets to Doversgreen. Both worked well. Both got into Priory School no problems and with it's painted ceilings and secret doors is not your normal state school.
Now, our eldest at 11 can walk to Reigate School on her own or into town with her friends at the weekend or hang out in Priory Park and although that's slightly scary for us, we know they'll be ok. Our neighbours are lovely and although there are some in town who have disappeared up their own posteriors, that is unfortunately a Surrey wide thing. New money innit!
Anyway, we love it here.