West Sussex Property Market Report

West Sussex Property Market Report

West Sussex property prices outperform South East...
Latest house price data shows that prices of sold properties grew modestly in the year to January 2019. Growth of 1.5% was recorded, compared to 0.1% growth across the South-East region as a whole.

Prices over the last three years – since January 2016 – shows a growth of 11% in West Sussex, compared to 9% in the South-East. Gordon Andrews, Senior Director of Mansell McTaggart, offered the following on the news:
"These sort of levels of growth are healthy and much more sustainable than the double-digit growth that we saw each year before 2008. I have always believed that property is a good investment, especially in the medium to long-term, and that prices are still growing despite the uncertainty facing the UK right now, certainly bears that belief out."
Properties up, buyers up more...
The turbulent times for our country has not dampened activity in the property market, with both new instructions and new buyers rising in the first quarter of 2019 compared to the previous quarter of last year.
Data from Mansell McTaggart, the largest independent agent in Sussex, shows that the number of new properties entering the market was 31% up in Jan-Mar 2019 compared to Oct-Dec 2018, whilst the number of new buyers registering rose even more – by 65% – over the same period.
Whilst it usual for more properties to enter the market in the early spring than in the period running up to Christmas, Jaime Wallden, senior director at Mansell McTaggart commented:

"The growth in new buyers exceeding the growth in new instructions shows the market for property in Sussex remains healthy, despite the uncertain times politically and economically for the UK!"

Published in: April Newsletter WS