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[Brighton] Housing market in Brighton



Skaville

Well-known member
Jun 10, 2004
10,099
Queens Park
Looking for some advice.

We have a one bedroom flat in central Brighton that we rent out and we’re thinking it might be time to cash in and sell up. However, we have a tenant in situ and don’t want to bother her unnecessarily.

I’d be interested to hear from estate agents or owners experiences of selling properties lately. Is the market good? Anyone buying? I’d just like to know if things are turning over and prices are holding up.

Many thanks
 


Ⓩ-Ⓐ-Ⓜ-Ⓞ-Ⓡ-Ⓐ

Hove / Παρος
Apr 7, 2006
6,522
Hove / Παρος
We're buying at the moment. Have been actively looking in Brighton since February and one thing I'll say is that if it's a good property it will sell fast. There's a lot of stuff coming on the market (we were only looking at 2 beds with gardens) and anything that was good and not priced stupidly went very quickly, often with a bidding war pushing it over the asking price (in June in Rutland Gardens for example there was a 2 bid listed at £400k that up going for over £410k (not sure of exact final price). Not sure about the 1 bedroom market specifically, just sharing our experiences. We were mostly looking in Seven Dials area and from there west out towards Hove as far as Aldrington so not sure about other areas.
 


Jimmy Grimble

Well-known member
Ⓩ-Ⓐ-[emoji713 said:
-Ⓞ-Ⓡ-Ⓐ;9432207]We're buying at the moment. Have been actively looking in Brighton since February and one thing I'll say is that if it's a good property it will sell fast. There's a lot of stuff coming on the market (we were only looking at 2 beds with gardens) and anything that was good and not priced stupidly went very quickly, often with a bidding war pushing it over the asking price (in June in Rutland Gardens for example there was a 2 bid listed at £400k that up going for over £410k (not sure of exact final price). Not sure about the 1 bedroom market specifically, just sharing our experiences. We were mostly looking in Seven Dials area and from there west out towards Hove as far as Aldrington so not sure about other areas.

Similar experience in late February/early March. Anything reasonably priced was going very quickly at either asking price or more.

My parents have had their place valued recently and the estate agents they’ve dealt with have given the usual spiel of prices are going up as people are moving down from London, appreciating quality of life/living situation more, etc.
 


franks brother

Well-known member
Looking for some advice.

We have a one bedroom flat in central Brighton that we rent out and we’re thinking it might be time to cash in and sell up. However, we have a tenant in situ and don’t want to bother her unnecessarily.

I’d be interested to hear from estate agents or owners experiences of selling properties lately. Is the market good? Anyone buying? I’d just like to know if things are turning over and prices are holding up.

Many thanks
PM Sent

Sent from my SM-A705FN using Tapatalk
 


Live by the sea

Well-known member
Oct 21, 2016
4,718
I agree, the market in central Brighton and central Hove is quite strong at the moment especially at the below £500,000 level for 1 & 2 bed flats . The house market in central Brighton has slowed a bit over £1m and it’s also slowed a bit in central Hove at £1.5 m and above .
 




Machiavelli

Well-known member
Oct 11, 2013
16,560
Fiveways
From what I can gather, the market overall has been slow for a good few years now. Things have picked up in B&H recently due to the stamp duty holiday, but that's concentrated pretty much in the £300k-700k+ price range.
FWIW, I've sold a one-bed flat in Hove in 2020. We've had a chain collapse in the immediate aftermath of CV19, but are currently moving forward with a house sale in Hanover, and house purchase in Fiveways.
 


Gwylan

Well-known member
Jul 5, 2003
31,324
Uffern
The house next door to us went on sale in March and was sold within a week - the asking price was £310k. I've no idea whether that's what it fetched but that didn't seem exorbitant for a 4-bed house.

So, judging by that experience, there's plenty of life in the local housing market.
 


knocky1

Well-known member
Jan 20, 2010
12,948
Just been in same position with 3 bed house, Hove. End tenancy and sell or keep renting.
Was 50/50. Tenant wanted to stay over winter and so have decided to sell early next Spring, Covid19 second wave permitting. Ideal property for anyone selling and leaving London, so price will hopefully hold up. We'll miss the stamp duty holiday for the purchaser unless extended.

1 bed flats will be trickier as mortgage companies have upped deposits to a minimum of 15%. Putting them out of reach of most first time buyers. The Buy to Let market doesn't appear strong either and is likely to get worse. https://www.ftadviser.com/investments/2020/06/11/buy-to-let-after-the-pandemic/

If it's a wow property it will help sell. You'll have to go with gut instinct.....................but don't ask an Estate Agent he'll say SELL.
 




stewart12

Well-known member
Jan 16, 2019
1,532
we sold our flat recently. Put it on the market at the beginning of the year. It did take quite a while to sell- including having a couple going AWOL having put in an offer-

completed in mid June- obviously some things took longer than normal due to lockdown

got an alright price for it
 


Uncle Spielberg

Well-known member
NSC Patreon
Jul 6, 2003
42,781
Lancing
Just been in same position with 3 bed house, Hove. End tenancy and sell or keep renting.
Was 50/50. Tenant wanted to stay over winter and so have decided to sell early next Spring, Covid19 second wave permitting. Ideal property for anyone selling and leaving London, so price will hopefully hold up. We'll miss the stamp duty holiday for the purchaser unless extended.

1 bed flats will be trickier as mortgage companies have upped deposits to a minimum of 15%. Putting them out of reach of most first time buyers. The Buy to Let market doesn't appear strong either and is likely to get worse. https://www.ftadviser.com/investments/2020/06/11/buy-to-let-after-the-pandemic/

If it's a wow property it will help sell. You'll have to go with gut instinct.....................but don't ask an Estate Agent he'll say SELL.

Nationwide 90% this week for first time buyers
 


Chicken Run

Member Since Jul 2003
NSC Patreon
Jul 17, 2003
18,278
Valley of Hangleton
So it appears the doom mongers were wrong again on house prices, they have a chance to redeem themselves and use Brexit as the next reason prices will fall [emoji23]
 




zefarelly

Well-known member
NSC Patreon
Jul 7, 2003
21,719
Sussex, by the sea
2 places near us both sold within 2 weeks recently . . . Pitch it right and it'll go. Both older properties . . . Not sure if the new chipboard towers On the riverbank are selling though
 


LlcoolJ

Mama said knock you out.
Oct 14, 2009
12,982
Sheffield
So it appears the doom mongers were wrong again on house prices, they have a chance to redeem themselves and use Brexit as the next reason prices will fall [emoji23]

Well let's hope so. But being realistic (and I am in no way a doom monger, plus I have plenty of skin in the game) the economic consequences of the pandemic have barely started.

And yes, then there will be the Brexit car crash to deal with. So I'm not cracking open the champers yet Chicks!
 


schmunk

"Members"
Jan 19, 2018
9,405
Mid mid mid Sussex
In my village, characterful houses are going Under Offer from cash buyers within a week of being marketed, if not sooner - my friend's house sold before it appeared on Rightmove.
 




Tom Hark Preston Park

Will Post For Cash
Jul 6, 2003
69,880
Market's never going to go down for long round these parts thanks to Estate Agent Krapspeak. Fiveways used to be a hilly busy traffic junction with the world's least user-friendly Co-op, a chippy and a nasty pub for coked-up brickies. Now we're asked to believe in something called Fiveways Village. My manky flat used to be in Preston Park. Now apparently it's in something called Preston Park Golden Triangle FFS :facepalm:
 


Green Cross Code Man

Wunt be druv
Mar 30, 2006
19,632
Eastbourne
In my village, characterful houses are going Under Offer from cash buyers within a week of being marketed, if not sooner - my friend's house sold before it appeared on Rightmove.
My parents live in a village near Lewes. There has been decent interest since they put their house back up for viewing a couple of weeks ago. It's pretty expensive but someone has already offered the asking price. Somewhere trendy like Brighton will imo kick any downward trend and so will any desirable small towns and villages. There are a lot of people wanting to leave our bigger cities due to the pandemic and a seaside town or village feel safer.
 


Half Time Pies

Well-known member
Sep 7, 2003
1,402
Brighton
So it appears the doom mongers were wrong again on house prices, they have a chance to redeem themselves and use Brexit as the next reason prices will fall [emoji23]

The problem with predictions is you can't anticipate economic policy responses like stamp duty reductions, volume of QE money and interest rate cuts. If the market was left to itself I suspect prices would already be a lot lower than they are!

With many people on furlough I also doubt whether the impact of this pandemic has been properly seen, the real threat to house prices has to be unemployment and we wont see the true extent of this until later on in the year.
 


Randy McNob

Now go home and get your f#cking Shinebox
Jun 13, 2020
4,440
Never understood the logic of property prices rising being a good thing?

If your property price increases so does everything else, hence if you buy / sell itś all relative. The value number is only ever fictitious since no one ever cashes it in, because it's where you live, Except only when your in your advance years when it matters little. Mortgages are long term investments and stability is more important than short term gains, which only creates a bubble and crash
 




Half Time Pies

Well-known member
Sep 7, 2003
1,402
Brighton
We are currently looking to buy in Hove/ Hangleton. One thing I am noticing is a huge range of pricing, for example there's a 3 bed semi in Hangleton Road at the Portslade end on for £585,000 yet there is a 4 bed semi in Sunninghill Avenue (just off Hangleton road) on for £110,000 less!

I don't think Estate agents know what price they should be advertising at.
 





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