How do house prices in Sussex compare with other areas in the UK?
At Mishon Mackay, as your local property experts, we keep our finger on the pulse of the current property landscape, keeping watch on both national trends and also those closer to home. In this article we explore how Sussex compares to other regions in the UK.
There have been many challenges over the last few years, and the lingering impacts of COVID-19, Brexit and the ongoing cost of living crisis has altered the property market in many ways. However, we are now coming out the other side and with 2024 already underway, it’s the perfect moment to delve into the Sussex market dynamics, especially for those considering a move to this great part of the country.
Sussex vs London
The Office of National Statistics reported that in early 2024, the average house price in Mid Sussex remained steady at £434,000, with sold prices also similar in Brighton and Hove, where the average house price was £422,000. Meanwhile, house prices in London are continuing to rise as homes in or near the city are experiencing renewed demand, with the average sold price for a property in London currently at £730,080.
This resurgence has been driven by employers reversing work-from-home policies that were implemented during the pandemic, causing commuters to return to the city.
Sussex vs Surrey
Surrey stands out as the most expensive area in the South East outside of London. The average asking price for a property in Surrey sits comfortably at £636,000, which is a staggering 141% above the average house price in the South East region as a whole. This significant price difference reflects Surrey’s status as a highly sought-after location, driven by its proximity to London, picturesque surroundings, and reputation for offering a desirable lifestyle.
Despite the premium price tag, many buyers are attracted to Surrey for its affluent communities, excellent schools, and access to a wide range of amenities, making it a top choice for those seeking upscale living in the South East.
Sussex vs Kent and Hampshire
Both situated on the coast, Kent and Hampshire are both favourable locations for those looking to commute to London, but also who want to get away from a busy city life.
Kent, with an overall average property price of £427,678, shows comparable sold prices to Sussex; however, Sussex offers distinct advantages due to its proximity to the sea across all areas, unlike some parts of Kent. Additionally, Sussex boasts the iconic South Downs National Park, offering residents access to stunning landscapes, scenic walking trails, and outdoor recreational opportunities.
Hampshire also presents an attractive option for those seeking a seaside town away from a major city while still benefiting from accessible transport links. Boasting the picturesque New Forest, Hampshire offers a tranquil escape amidst natural beauty. With an overall average price of £392,426, Hampshire provides a more affordable alternative compared to neighbouring counties.
The battle of West vs East Sussex
Despite differences in average house prices between East Sussex (£426,228) and West Sussex (£441,284), both counties have seen a decrease since 2023, presenting opportunities for homebuyers.
With excellent commuter connections, Sussex is not only favoured by families for its quality schools and safe surroundings but also attracts young professionals drawn to its blend of urban amenities and rural charm. East Sussex, with vibrant towns like Brighton and Eastbourne, offers a bustling urban lifestyle, while West Sussex, home to tranquil areas like Haywards Heath and Worthing, embraces a more serene pace, emphasising countryside pursuits and rich cultural heritage. Whether it’s the lively arts scene of East Sussex or the traditional charm of West Sussex, both regions cater to diverse lifestyles, ensuring there’s something for everyone in Sussex.
Although we are biased, Sussex continues to emerge as a standout choice for prospective homeowners, boasting a blend of affordability and cultural vibrancy that few regions can match. Its property prices present an exciting opportunity for first-time buyers, growing families, and those seeking to step up in the market and its superb transportation infrastructure ensures seamless connectivity to London and neighbouring counties, enhancing its allure for commuters and city dwellers alike.
Figures sourced from ONS, Rightmove and Plumplot.
If you’re considering buying or selling property in Sussex, our professional and friendly team is here to provide the guidance and support you need. With expertise in both East and West Sussex, we are well-equipped to assist you throughout your property journey. Get in touch with us today to learn more about how we can help you achieve your property goals.