Whats up in the Brighton Letting and Sales markets
The hectic property markets in Brighton remain buoyant
The first half of the year saw early activity from the students looking for their next academic years home. It seems the hunt starts earlier each year, especially for properties that are quite quickly seen as being in limited supply.
This year there has been heavy demand on the 3,4 & 6 bedroom properties. More students will prefer taking a furnished house over an un-furnished one and if the furniture is presentable and reasonable quality, it is often the factor that will help seal the let. International students registering for rental property are also higher in number, suggesting the courses on offer at the Sussex & Brighton Universities and City College are widely acclaimed around the globe.
The Professional market is extremely active in the lower-middle price ranges. Studios, 1 bedroom flats, 2 bedroom flats and terraced houses will receive enquiries within 24 hours of the property details hitting the websites. The supply of each of these property types cannot keep up with the increased demand from tenants.
The family market is more active than last year.
The registration of applicants in receipt of Local Housing Allowance (formally housing benefit) has increased dramatically suggesting that Brighton & Hove City Council and the Local Housing Associations are still struggling to house those in need.
On the sales front the first half of the year continued in the vein of last year with increased buyer activity and prices increasing by 5-7%.
Buy to Let remains popular with waiting tenants for most property types.
With the combination of Government change, emergency budget, affordability and the World Cup things are currently a bit slower than the first quarter of the year.
If you wish to discuss buying, selling, renting or letting in the Brighton & Hove area, please send us an enquiry I would be delighted to hear from you.
Gordon White
