All Sunday Times readers will be aware that the property market in Brighton is not stagnant and forecasters, pundits and Property Search Agents like us are confident that it will remain in demand. The reason for this lies much deeper than the beach, vibrant night life and proximity to London. Brighton has some wonderful property: traditional Victorian and Edwardian terraces, bold examples of modern architecture and quaint mews as well as niche areas near the town centre which are affordable, have a real sense of community and offer charming small family homes. But as any good property search agent will tell you, it is much more than that. Modern lifestyle demands great flexibility and many people are reluctant to invest in property in times of shifting employment.

No longer are loans there for the asking and if employment ceases then having to service a mortgage is yet another hurdle to ‘getting on with life’. One solution is to have the flexibility to own a pad that can also be an investment. This is even more attractive if there are facilities to hand to entertain clients, to relax, have a refreshing spa treatment, or a swim and have within reach full hotel services. If business takes you abroad, or to a different part of the country, your investment will be secure as it will be an attractive short or long-term rental property offering the very amenities that attracted you, to prospective tenants. Brighton is a conference centre, a holiday destination, boasts two universities and has a thriving media industry. Add to this the annual Brighton Festival in May, now second only to the world renowned Edinburgh Festival, and it is easy to see why its attractions offer something for everyone.

What are you doing this weekend? Why not come down to Brighton and sample the festival, the sea breezes and round it off with a meal in one of the unique eating houses in the Lanes – yes two very different Lanes, Dukes Lanes of Edwardian times or the North Lanes representing Brighton’s modern lifestyle. Take a bus tour and see for yourself the variety and splendour of Brighton and its property! And of course if we’ve tempted you to find your perfect family home, rental investment or pied a terre, contact the best Property Search Agents in Brighton, Manse and Garret Property Search on 0845 459 1703.

Technorati Tags: Brighton Buyers Agents, Brighton house prices, Brighton Property Agents, Brighton Property Finder, Brighton Property Search Agents, Brighton Relocation Agents, Sussex Propert Finders, Sussex Property Aquistion Agents, Sussex Property Finders

Tags: Brighton Buyers Agents, Brighton house prices, Brighton Property Agents, Brighton Property Finder, Brighton Property Search Agents, Brighton Relocation Agents, Sussex Propert Finders, Sussex Property Aquistion Agents, Sussex Property Finders

Musings of a London Property Finder

Average house prices have fallen 10% over the year to the end of October 2008, according to The Land Registry, the government official House Price Index.

London and Brighton property have not fared as badly, down 8.6% and 7.2% respectively although the picture is very mixed for the South East region as a whole.

Waltham Forest was the worst hit London borough, registering an annual house price fall of 9.2%.  Wandsworth and Lambeth have also been badly hit, with average price falls of -7.3% and -8.2% respectively. 

Westminster and Harrow are the only boroughs to have held onto gains made since September last year, registering annual house price growth of 0.1% and 0.7% respectively.  Southwark and Barking and Dagenham registered the lowest falls with reductions of 0.5% and 1.9% with Bexley, Brent, Enfield, Hackney and Hillingdon closely behind with marginal price falls of circa 2% on last year.

Kensington and Chelsea which has generally held up quite well this year dropped 1.7% in October and registered an annual overall price fall of 3.6%. 

During the first quarter of this year it looked like prices were more likely to hold in London than in the South East.  Todays data shows that many of the Home Counties have out-performed some London boroughs.   

Windsor and Maidenhead where there are a plethora of very large executive homes and often little reason to sell in a downturn, has performed the best of the South East regions, registering price falls of 2.7% over the last year – nothing to write home about.  Price falls of under 5% are reported in Buckinghamshire, Thurrock and Surrey and average house prices in Kent are 5% less on the nose.

All other areas in the South East are registering house price falls of above 5% with the most significant house price deflation in Northamptonshire where average house prices are worth 10% less than a year ago.

The number of property transactions has also continued to fall across the board apart from sales of less than £100,000 and yes, there are some in London – there were 58 property sales in August for under £100,000.

Clients who have chosen us as their Property Search Agents will be aware that negotiated final prices depend very much on the situation of the vendor and the realism of the initial asking price, but that price cuts of 20-30%+ and more have become more common.  As professional Property Finders, we try to dissuade Clients from buying properties which we believe are over-valued but although these figures may sound alarming, they are only of concern to people at risk of going into negative equity.  Most people who have bought wisely and had their homes for five years or more should not be affected.

Homeowners wanting to move who have a reasonable amount of equity in their homes should still be able to do so – the key to a successful purchase in this market is:

1.  Ensure that the discount negotiated off the current market valuation of a new home exceeds any negotiation on the home sold
2. Research the new area thoroughly so that you have a good idea of whether it is going to fare well in years to come and take future price falls into consideration when you offer
3. If you  don’t feel confident about the above – speak to a London Property Finder who does – our number is 020 7923 7564

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Tags: Brighton house prices, Brighton Property prices, Hampshire House Prices, house price crash, house price falls, House Prices, Kensington and Chelsea house prices, Kent house prices, London house price crash, London House Prices, London Property Finder, London property prices, Westminster property prices, Windsor & Maidenhead house prices