Sussex Property Market View
Opportunities in new commuter areas
We are now starting to see the start of Summer in the gardens – the leaves have returned to the the trees and the plants are blooming. But what of the property market at the beginning of Summer – are things starting to bloom?
Looking back to the start of the year, Rightmove saw average sales values increase by 0.5%. Not much of an increase but still an increase. The increase was countered by the weaker demand for homes at the top end of the market. This was confirmed by The Land Registry figures for January as sales on an annual basis had increased by 33% nationally for homes in the £500,001 to £600,000 price bracket whilst for homes over £2 million it fell by 21%.
Activity levels in the market are positive though, building on the end of last year. Local prices are on the increase as many buyers look to move from the more expensive areas of London and Surrey to sought after areas of Sussex where their money will buy them more than in their current locality. The out priced city purchasers are moving out to the ‘country’ market and this trend looks set to continue.
Opportunities are available for open minded and well informed buyers outside of the limited number of homes for sale in certain areas and certain price bands. Savvy purchasers in the know are now looking at places like Pulborough and Amberley in Sussex which have train stations with direct lines to central London to get value for their money and maximise affordability (or yield if they are purchasing buy to let properties in these areas).
With many people now working flexibility balancing time working in the office with time working from home, properties in commutable areas with home offices are looking very attractive – the addition of a well-constructed office in the garden of a property can add to the overall value and show real return on investment.
2015 saw the number of people selling up and moving out of London increase by two thirds which is a pretty hefty increase. There are good equity gains to be see in the more affordable locations not previously considered commuter towns but now looking a good option for those needing to reach the city on a regular basis.
If you'd like a chat about your particular property, or if you see a property for sale and would like an opinion on the rental return and investment potential, email me at firstname.lastname@example.org or call me on 01403 248222.
Posted on 17 May 2016
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With these updates, I follow the property market across Sussex and pass all our knowledge and findings on to you, the buyers, sellers, tenants and landlords of Sussex.
If you are thinking of buying a property for rental and would like to discuss this or if you see a property for sale and would like an opinion on the rental return and investment potential, email me at email@example.com or call me on 01903 742354.