Brighton Property Prices. What’s my house worth?
The Brighton property market has always performed well compared with the national average. Brighton attracts a wide range of people and has the enormous appeal of offering coastal properties with everything from stunning sea views through to those with sea glimpses from the upstairs bedrooms.
The Buy to Let Market is also very strong and many people choose to live here simply for the quality of life it affords.
Obviously Brighton University is a big attraction for students looking to rent whilst the business sector is also a big draw.
Statistics up to October 2019 show the market remains very healthy with the average property price in the Brighton Postcode area being £352k. In 2020 the market is looking very robust indeed.
In 2019 we saw an average price increase of just under £6,000 which represents a 2% increase over the last 12 months. Certainly not the best year on record but compared with many other areas in the UK it’s a welcome increase.
What’s my property worth?
Getting an accurate valuation for a property you’re hoping to sell is absolutely essential.
When an estate agent gives you a higher valuation for your property than you expected there’s a tendency to punch the air with joy and give that agent the job. Unfortunately, your joy at hearing it’s worth more than you actually thought is often short-lived. Old hands in the property market know this is merely a technique used by less-honest agents in order to secure the sale.
As the months pass by, with little or no interest you slowly start to realise your agent has done you no favours at all. In fact, you’ve just wasted a lot of valuable time and missed out on a lot of potential buyers.
So getting an accurate and realistic valuation is essential.
Brighton Property prices: Location, location, location.
We all know the mantra – location is everything. Well, this is certainly true – but it’s not all about location. A property’s value is just as much affected by the size, the condition and the layout. Each of these factors plays their part.
In Brighton, the most affordable location is currently BN21 3 with an average price of around £183k (end of 2019 statistics).
The most expensive postcode is BN3 6 with an average selling price of £674k.
Location isn’t just about where the property is located. The “location” also means proximity to transport links, good schools, restaurants and shops.
House price factors. What’s in a name?
It’s surprising what other factors come into play in determining a price. Did you know that the actual name of the street can have a tremendous impact on the value of an estate?
Analysis conducted by Zoopla shows that “Properties located on ‘Warrens’ are worth more than double the national average” while “properties on ‘Streets’, ‘Courts’ and ‘Terraces’ have the lowest average property values across the UK.
Admittedly not something you can do a lot about and if you live at 13 Dodgy End you may have a bit of an uphill task.
Size Matters in Brighton.
The amount of space that the physical property has to offer is going to provide an immediate understanding of its worth. Some size-related questions that matter most are:
- How large is the floor area?
- Is it a terraced house, semi-detached house or a detached house?
- How much outdoor space is there?
- Is there a porch, conservatory, deck or balcony that adds to the outdoor feel?
- How far is it from Brighton train station?
- Is it walking distance to Brighton town centre or the beach?
- How many bedrooms?
- How many bathrooms?
- Is there a private driveway?
When buyers are searching for a new home, space really counts, even more so as modern developments are often very cramped.
Brighton and Hove Property Prices. Is your property getting enough TLC? Kerb appeal remains a big factor.
The emphasis on having a well-maintained property has been an increasingly important factor in recent years. Most buyers are looking for clean well-managed properties. A well-presented property will always achieve a higher price and a faster sale.
Whilst there is also demand for total refurbishment projects, there’s less interest in properties that fall between the two.
Most people want a property that does not require redecorating, an expensive garden makeover, a new boiler or looks like it has had little care over the last ten years. Unfortunately, when sellers value their property themselves they rarely take these factors into account. Just because you have an identical house that fetched a high figure in the same road does not necessarily mean yours is worth as much.
A new drive, replacing the old boiler and new double glazing can easily cost £30,000 or more. Even if the buyer hasn’t taken this into account, the mortgage valuers certainly will.
Use these 10 tips to spruce up your home’s kerb appeal and sell your house fast.
How we can help you with a valuation – and secure a fast sale.
Our local expertise and knowledge of the Brighton property market mean that we understand how to accurately assess the true value of your property. True value is the price it will realistically sell for in a sensible period of time.
Need help with selling as well? We can achieve sales far faster and with less hassle than traditional routes to market. Learn more about us HERE.