West Sussex house prices slip by -0.6% in July
The latest figures from the Office of National Statistics, or ONS, show house prices falling slightly in West Sussex. However, prices vary across the County.
Average house prices in West Sussex fell by -0.6% in the year to July 2020. National and Local Council areas break down as follows;
- UK overall £238,000 up 2.3%
- England £254,688 up 2.5%
- West Sussex £320,676 down -0.6%
- Arun £282,299 up 0.4%
- Adur £312,890 down -2%
- Chichester £383,339 up 0.4%
- Crawley £274,553 down -2.9%
- Horsham £374,425 up 1.4%
- Mid Sussex £369,125 up 0.3%
- Worthing £269,590 down -3.4%
According to the ONS, looking at the UK as a whole;
“The latest house price data published on GOV.UK by HM Land Registry for July 2020 show that average house prices in the UK increased by 2.3% in the year to July 2020, down from 2.9% in the year to June 2020 (Figure 1).
This slowing in UK annual growth is partly a base effect as whilst UK prices have increased between June and July this year, they increased by a bigger amount during the same period in 2019. This base effect was driven by London, which saw prices increase by £8,000 between June and July 2019, but has seen prices remain the same between June and July 2020.
Over the past three years, there has been a general slowdown in UK house price growth, driven mainly by a slowdown in the south and east of England. The beginning of 2020 saw a pick up in annual growth in the housing market before the coronavirus (COVID-19) restrictions were put in place at the end of March 2020.”
The number of house sales was also much lower than a year ago. There were 436 sales in West Sussex compared to 1,135 last year.
Want to learn more?
A list of local house prices listed by council areas is here
You can read the UK ONS press release here.
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