Sussex Property News: Rates Held, House Prices Still Rising

The Bank of England left interest rates unchanged this month while official figures showed house prices still edging up over the year. Here is what the latest numbers mean for anyone planning a Sussex move.

Bank of England holds the base rate at 3.75%

The Monetary Policy Committee voted 7 to 2 on 18 June to hold the base rate at 3.75%, the fourth hold in a row, with the two dissenters wanting a rise to 4%. The decision followed confirmation that inflation held at 2.8% in May, and the Bank flagged energy-price volatility as a continuing risk. For movers that means no immediate change to tracker payments and a steadier backdrop for pricing fixed deals. Source: Bank of England.

Official figures show prices still rising over the year

The latest ONS House Price Index put average UK house prices at around £270,000 in April, up 3.8% over the year. The annual rise sits alongside softer recent monthly readings, a reminder that headline growth can mask a flatter market on the ground. Source: Office for National Statistics.

What it means in Sussex

A steady base rate and modest annual growth point to a market that rewards realism over timing. Sussex is a higher-value area, so national moves land here with force, but sought-after towns near good schools and stations hold their value better than the headline suggests. If you are buying, a flatter market gives more room to negotiate than a year ago; if you are selling, price to today rather than to last year's peak.

Plan the move, not the market

Budget for the full cost of moving before you commit. Work out your stamp duty up front and factor in conveyancing, surveys and removals. Our stamp duty calculator and guide to the cost of moving house in Sussex can help you plan.