Market Trends
Relative to recent years, 2011 has been comparatively uneventful in terms of big fluctuations in the property market locally. Despite some concerns over economic growth and property prices reportedly seeing their greatest drop in some time nationally, the housing market in Brighton & Hove has remained stable.
Properties in the city have held their value from the beginning of the year and look likely to continue to do so. Just as the weather has hotted up so has the market, with a steady increase in sales completing as we've moved from Spring to Summer. The number of transactions is also on a par with this time last year and the number of properties coming on to the market and potential buyers indicates a healthy state of affairs at this midpoint in the year.
If you are looking to move, as ever the secret to a successful sale at the best possible return is realistic pricing. It is a competitive market and although it is tempting to put your home on at the highest possible price this could lead to your property sitting on the market losing value, whilst similar places are snapped up. Ensure your estate agent has a good knowledge of the local area and what similar properties in the area have gone for when choosing an agent and agreeing the list price to market your property at.
Without a crystal ball it is difficult to predict with certainty what the second half of the year will bring but we are quietly confident the local property will remain stable. Despite some economic pessimism, with the base rate being maintained, GDP figures better than expected and interest rates being held longer than predicted things have been far more positive than perhaps forecast. Indeed, some mortgage lenders are actively reducing their rates in order to be more competitive and encourage lending and growth.
That said, there is a rate rise expected in the second half of 2011 so if you are looking to move this year it is advisable to get in before then if you can to take advantage of cheaper mortgage deals.
Brighton & Hove continues to prove an attractive place to live, as illustrated by its relative resilience in comparison to the rest of the UK. As a vibrant city with a thriving population, we enjoy a dynamic property market with people continuing to move for a variety of reasons.
Rotherfield Crescent, Brighton, BN1 8FQ
£250,000
3 Bedroom(s)
1 Reception(s)
View Details
Norfolk Square, Brighton, BN1 2PB
£169,950
1 Bedroom(s)
1 Reception(s)
View Details
Norfolk Square, Brighton, BN1 2PB
£194,950
2 Bedroom(s)
1 Reception(s)
View Details
Norfolk Square, Brighton, BN1 2PB
£164,950
1 Bedroom(s)
1 Reception(s)
View Details
