House prices on the up all over East Sussex

Broad View in Bexhill
Broad View in Bexhill

House prices across East Sussex are rising as confidence in the UK housing market continues to improve.

Data released earlier this week show the average house price across the country rose by 0.6 per cent in February – providing a timely boost for local estate agents and sellers.

And here in East Sussex the boost is even greater – with prices in the South East region leaping 0.9 per cent – a rate second only to London.

Year on year the increase looks even healthier. The average house price last month was a massive 9.4 per cent higher than February last year, according to Nationwide.

Robert Gardner, Nationwide’s chief economist revealed house prices recorded their 14th successive monthly increase in February as demand continued to be supported by record low interest rates, improved credit availability and rising consumer confidence thanks to the healthy gains in employment recorded in recent quarters.

The average asking price for an East Sussex semi-detached home jumped ten per cent, from £286,067 to £313,920 and the biggest leap in terms of number of bedrooms was for three bed properties, which increased 12 per cent from an average of £283,686 to £317,272.

Detached properties showed the best overall performance.

They increased 15 per cent from £487,363 in February last year to £562,509 last month – no doubt partly due to a drop in supply, with records showing 22 per cent less detached homes being put on the market over the same time period.

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