Lewes house prices increased slightly in August

By Andrew Dowdeswell, Data Reporter
Published 18th Oct 2023, 16:36 BST
General view of estate agents signs outside a block of flats in Basingstoke, Hampshire.General view of estate agents signs outside a block of flats in Basingstoke, Hampshire.
General view of estate agents signs outside a block of flats in Basingstoke, Hampshire.
House prices increased slightly, by 0.3%, in Lewes in August, new figures show.

House prices increased slightly, by 0.3%, in Lewes in August, new figures show.

The rise contributes to the longer-term trend, which has seen property prices in the area grow by 2% over the last year.

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The average Lewes house price in August was £409,524, Land Registry figures show – a 0.3% increase on July.

Over the month, the picture was similar to that across the South East, where prices decreased 0.1%.

Over the last year, the average sale price of property in Lewes rose by £8,100 – putting the area 15th among the South East’s 64 local authorities with price data for annual growth.

The highest annual growth in the region was in Oxford, where property prices increased on average by 6.8%, to £508,000. At the other end of the scale, properties in Hastings lost 10.4% of their value, giving an average price of £261,000.

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First steps on the property ladder

First-time buyers in Lewes spent an average of £318,200 on their property – £4,900 more than a year ago, and £56,400 more than in August 2018.

By comparison, former owner-occupiers paid £466,900 on average in August – 46.7% more than first-time buyers.

Property types

Owners of semi-detached houses saw the biggest rise in property prices in Lewes in August – they increased 0.6%, to £432,006 on average. Over the last year, prices rose by 2.4%.

Among other types of property:

  • Detached: up 0.4% monthly; up 2.4% annually; £630,213 average
  • Terraced: up 0.5% monthly; up 1.1% annually; £348,230 average
  • Flats: down 0.3% monthly; up 1.6% annually; £212,269 average

How do property prices in Lewes compare?

Buyers paid 4.1% more than the average price in the South East (£393,000) in August for a property in Lewes. Across the South East, property prices are high compared to those across the UK, where the average cost is £291,000.

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The most expensive properties in the South East were in Elmbridge – £706,000 on average, and 1.7 times the price as in Lewes. Elmbridge properties cost 2.8 times the price as homes in Southampton (£249,000 average), at the other end of the scale.

The highest property prices across the UK were in Kensington and Chelsea (£1.4 million).

Factfile

Average property price in August

  • Lewes: £409,524
  • The South East:£393,417
  • UK: £291,044

Annual change to August

  • Lewes: +2%
  • The South East: -0.6%
  • UK: +0.2%

Highest and lowest annual growth in the South East

  • Oxford: +6.8%
  • Hastings: -10.4%