Property sales and lettings activity in Brighton, Autumn 2009

The year has certainly thrown up some interesting activity on both the sales and lettings front so far.

27th October 2009 published by Gordon White

A shortage of properties for sale and an influx of cash rich buyers at the beginning of the year meant that asking prices started to grow. 5-7% has now gone back on to capital values, given the decline of 15-20% from the market high of Mid 2007, this has roughly taken prices back to late 2005/2006 figures.

There remains a shortage of good quality well priced property, especially in central areas. The key remains to price right and to accept the market value. The buyers are still active for the right properties at the right price.

The rental market threw up some interesting patterns of activity. At the beginning of the year, the professional/family market was not as buoyant as normal, with some of the smaller properties experiencing voids for the first time in years. Early Spring normally sees very high levels of student activity and though the viewings were up considerably on last year, numbers registering were down, especially in April and early Summer.

Good weather often slows the sharer/student market, when the parks and seafront are full, the house hunting for next year is often a secondary thought.

This resulted in a very busy late Summer period and a clambering for suitable property, especially 3-4 bedroom centrally located property.

The professional market also experienced a rapid upturn during the Summer, resulting in higher rentals being achieved.

As Autumn unfolds there remains a shortage of 1 and 2 bedroom property, which is resulting in upward pressure on asking prices.
 

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