At 6.2%, average annual price growth in the South East is lower than the UK average. However, growth is currently at its strongest level since January 2017 and considerably higher than the -0.3% recorded this time a year ago. Although Rightmove report average asking prices fell 1.4% month on month in January, properties are selling more quickly than a year ago.
Annual price growth has strengthened across the UK in recent months
Most active housing markets across the South East Home Counties
At £342,271 the average price of a property in the South East of England is £20,000 more expensive than a year ago and activity across the market is robust. On average 3.6% of private properties are sold each year, with turnover across five areas 4% or more. Over 18,300 new homes were registered for sale during 2020, and nationally registrations have been on an upward trend since September.
First-time buyers were particularly affected by the closed housing market and the stricter mortgage lending that followed. However, buyer numbers have recovered steadily, with transactions just 2% lower year on year during the final six months of 2020 (UK Finance). The number of High Loan-to-Value (LTV) mortgage products has also increased, Moneyfacts reporting there were 169 products available at 90% LTV in January, over double the number available back in July. Lending rates remain low, the average mortgage rate the lowest in history.
Properties for sale in the South East Home Counties
This attractive Grade II Listed timber-framed Wealden farmhouse is located on the outskirts of the village and is believed to date from the mid 1400's, enjoying character features including Inglenook fireplaces, oak floors and extensive exposed timbers. The well-proportioned rooms include three reception rooms, a farmhouse kitchen and four bedrooms, complemented by attractive park-like gardens of around 1.5 acres.
This Grade II Listed terraced house is situated in a sought-after Kemptown location in Brighton, boasting an excellent range of nearby amenities and beautiful sea views. The property is laid out over five floors, comprising four bedrooms, a large lounge, an open-plan kitchen-diner, a utility room, two bathrooms and a balcony on the first floor.
This attractive five-bedroom family home is situated in a semi-rural location, Edenbridge, which boasts two railway stations travelling to London in 40-45 minutes, as well as National Trust attractions, a selection of delightful pubs and other local facilities nearby. The house has spacious and flexible living accommodation on the ground floor, five well-proportioned bedrooms including one with an en suite, integral garaging and driveway parking.
If you want independent guidance on moving home or are looking for the best agent in your area, find your local Guild Member today.