Agents report the sales to stock ratio across the South East is at its highest level since spring 2016 (RICS). At 3.8%, the annual rate of housing stock turnover across the South East Home Counties, Kent and East Sussex is above the UK average. Levels currently exceed 4% in the most active markets.
Although new instructions to the market have improved slightly in recent weeks, demand continues to outpace supply, placing sustained pressure on prices. Month-on-month average property prices are rising in all regions of the UK.
Year-on-year price growth across the South East is substantially stronger than the 1.9% recorded this time a year ago (UKHPI). Double-digit annual price growth is evident in seven local areas in the South East Home Counties, Kent and East Sussex.
Market activity is fast-paced. According to Rightmove, the average time taken to sell a property in the South East is 47 days. The proportion of properties selling within their first week of listing is at a record high (Zoopla) and the average time taken to sell a property in the UK is nearly three weeks quicker than in April 2019 (Rightmove). Lifestyle change continues to drive demand, buyers also aided by the extension of elements of tax relief and the new 95% government-backed mortgage guarantee scheme, available on either new or resale properties.
This early Victorian four-bedroom townhouse is set within the 'old village' area of Royal Tunbridge Wells. Built circa 1839 with accommodation arranged over three levels, the home is host to a range of period features including panelled doors, sash windows and attractive open fireplaces. The versatile layout includes an entrance hall leading to a sitting room with bay window, open fireplace with cast iron grate and wood surround.
This striking contemporary residence occupies a substantial plot of just under 0.5-acres and is situated within an exclusive village location. A stickler for perfection and attention to detail, the current owner designed and built the property using the finest materials and is finished to an exacting standard with a stylish approach to interior design. The sleek kitchen is packed with 'AEG' appliances and features 'Corian' work surfaces whilst the galleried landing is flooded with natural light and presents five double bedrooms. The garden widens into an L-shape with a vegetable garden at the bottom and wonderful views across the fields.
This stunning period home is located in a sought-after location in Hove and features four bedrooms, two bathrooms and a beautiful garden. There is a great selection of local amenities nearby, a range of good schools, and excellent commuter links.
Take advantage of the seller's market this summer with the best agent in your area. Contact your local Guild Member today.