Sussex Property News: Asking Prices Post Their Biggest June Drop in 14 Years

New-seller asking prices have fallen at their fastest June pace in well over a decade, as a glut of homes for sale hands the advantage to buyers. Here is what the latest figures mean for anyone planning a Sussex move.

Rightmove records the sharpest June fall since 2012

The average price of a home coming to market fell 0.6%, or 2,113 pounds, in June to 376,191 pounds, according to Rightmove. That is the largest fall recorded in June for 14 years, against a typical June rise of around 0.1% over the past decade, and leaves asking prices about 0.5% lower than a year earlier. Source: MoneyWeek.

Too many homes, too few buyers

Rightmove points to a record number of properties on the market for the time of year, combined with wider economic uncertainty, pulling the usually quieter summer slowdown forward. Sellers are trimming expectations to stand out, and well-priced homes are still selling, while overambitious ones are sitting. Mortgage rates remain elevated, though Rightmove noted a modest improvement in affordability. Source: MoneyWeek.

What it means in Sussex

Sussex is a higher-value market, so national shifts tend to land here with force, but sought-after towns near good schools and stations hold their value better than the headline suggests. If you are selling, price to the market you are in now rather than to last year. If you are buying, you have more room to negotiate than at any point in the past year.

Plan the move, not the market

A flatter market rewards careful budgeting over clever timing. Work out your stamp duty before you offer and build in the full cost of the move. Our stamp duty calculator and guide to the cost of moving house in Sussex can help you plan.