Mid Sussex house prices increased slightly in July - but how do they compare to the rest of the South East and UK?

House prices increased slightly, by 0.9%, in Mid Sussex in July, new figures show.

Wednesday, 15th September 2021, 3:15 pm
Updated Wednesday, 15th September 2021, 3:16 pm

The boost contributes to the longer-term trend, which has seen property prices in the area achieve 8.3% annual growth.

The average Mid Sussex house price in July was £399,158, Land Registry figures show – a 0.9% increase on June.

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The average Mid Sussex house price in July was £399,158, Land Registry figures show – a 0.9% increase on June.

Over the month, the picture was better than that across the South East, where prices decreased 1.3%, and Mid Sussex outperformed the 3.7% drop for the UK as a whole.

Over the last year, the average sale price of property in Mid Sussex rose by £31,000 – putting the area 44th among the South East’s 70 local authorities for annual growth.

The best annual growth in the region was in Hastings, where property prices increased on average by 23.6%, to £263,000. At the other end of the scale, properties in Swale gained 1% in value, giving an average price of £259,000.

Winners and Losers

Owners of flats saw the biggest improvement in property prices in Mid Sussex in July – they increased 1.2%, to £216,745 on average. Over the last year, prices rose by 6%.

Among other types of property:

Detached: up 0.6% monthly; up 9.1% annually; £658,625 average

Semi-detached: up 1.1% monthly; up 8.9% annually; £422,153 average

Terraced: up 0.8% monthly; up 8.2% annually; £332,643 average

First steps on the property ladder

First-time buyers in Mid Sussex spent an average of £301,000 on their property – £21,000 more than a year ago, and £25,000 more than in July 2016.

By comparison, former owner-occupiers paid £463,000 on average in July – 53.6% more than first-time buyers.

How do property prices in Mid Sussex compare?

Buyers paid 12.7% more than the average price in the South East (£354,000) in July for a property in Mid Sussex. Across the South East, property prices are high compared to those across the UK, where the average cost £256,000.

The most expensive properties in the South East were in Elmbridge – £687,000 on average, and 1.7 times as much as in Mid Sussex. Elmbridge properties cost 3.2 times as much as homes in Southampton (£217,000 average), at the other end of the scale.

The highest property prices across the UK were in Kensington and Chelsea, where the average July sale price of £1.3 million could buy 13 properties in Burnley (average £101,000).

Factfile

Average property price in July

Mid Sussex: £399,158

The South East: £354,278

UK: £255,535

Annual growth to July

Mid Sussex: +8.3%

The South East: +8.8%

UK: +8%

Best and worst annual growth in the South East

Hastings: +23.6%

Swale: +1.0%

Joanna Morris, Data Reporter