If you are thinking about moving to Brighton, or if you want to sell your home and want to ensure that you get the best price for it then it is so important that you consider the local house prices before making your decision. House prices fluctuate all the time and they have increased significantly over the last 5 years. With that being said, house prices have increased more in some areas than others, especially in Brighton.
Dyke Road Avenue and Roedean Way are the Highest-Valued
Dyke Road Avenue, Roedean Way, and Tongdean Avenue are the streets with the highest value in Brighton. On Dyke Road, three properties sold for an average price of £2,175,000. For reference, the average house price in Brighton is £425,000. Property price rhetoric says that prices double on average every 10 years. With that being said, only Cambridge, London, Cambridge, Edinburgh, Bristol, Manchester, and Brighton have seen house prices rise faster than inflation.
When you measure the property market, it’s important to know that regional averages do not always reflect what is happening to individual buyers and homeowners. If you look at other areas of Brighton, you’ll see that six properties sold on the Eastern Concourse only averaged a price of £74,416. On the Western Concourse, prices were slightly higher at £84,166. These two areas have the lowest average house prices in Brighton.
Buying and Selling Property in Brighton
A lot of people who plan to sell their homes do their research first. If you’re wondering, how do I sell my house when the market is bad, then selling your home for cash through a real estate service is a good option. Companies like that will usually give you a cash offer, which means you can move on to your next home without a chain. You will also find that you don’t have to compete with other properties that have gone up for sale on your same street, which can be beneficial if you live on a street such as Dyke Road, which has a lot of competition from neighbouring properties and other areas. Economic changes also impact house sales. If you live in an area like Dyke Road, with a property far beyond that of the national average, you may get a sale quickly in a good economy, but in a bad economy, buyers may not have the kind of capital you’re looking for.
When buying any property, you need to take into account inflation, the market, and the general investment you’re making. With Brighton being one of the few areas to keep up with inflation, it’s certainly a prime location for investors. With that being said, you don’t want to overshoot your goals and buy the most expensive house in the area. Consider looking at the local area and find a mid-ground between Dyke Road and the Eastern or Western Concourse, so you can weather any future economic storms without putting too much of your financial capital at risk.
By taking note of considerations like this, you’ll be able to make a good property investment that will benefit you for years to come.
