Bexhill Housing Crisis? Only 3.7% of Bexhill Homes Are For Sale
The Bexhill Property Market continues to disregard the end of the world prophecies of a post Brexit fallout with a return to business as usual after the summer break.
The challenge every Bexhill property buyer has faced over the last few years is a lack of choice – there simply hasn’t been much to choose from when buying a property (be it for investment or owner occupation). Levels are still well down on what would be considered healthy levels from earlier in this decade, as there is still a substantial demand/supply imbalance. Until we start to see consistent and steady increases in properties coming on to the market in Bexhill, the market is likely to see upward pressure on property values continue.
For example, in the last few months, TN39 has seen an average of 112 new properties coming on to the market, not bad when you consider for some months last year it was as low as the late 70’s. With the average Bexhill property value hitting a record high, reaching almost £273,600 according to my research, this shortage of properties on the market over the last two years has contributed to this ‘fuller’ average property figure, but there is a glimmer of hope that the Bexhill’s supply crisis may be starting to ease.
As I write this article, 3.79% of Bexhill properties are up for sale. In terms of actual chimney pots, that equates to 682 properties on the market in Bexhill (within 3 miles of the centre of Bexhill) – which, when compared to only a year ago when that figure stood at 585, is a serious increase in the number of properties available to buy. Split down into the type of property; it makes even more fascinating reading …
Detached Properties in Bexhill- 229 on the market a year ago compared to 238 on the market now – an increase of 4%
Semi Detached Properties in Bexhill- 58 on the market a year ago compared to 97 on the market now – an increase of 67%
Terraced Properties in Bexhill- 23 on the market a year ago compared to 40 on the market now – an increase of 74%
Flats / Apartments Properties in Bexhill- 249 on the market a year ago compared to 250 on the market now – no change
This is evidence of strength in the Bexhill housing market that many didn’t expect. Many believed that the Bexhill property market wasn’t going to be strong enough post Brexit – as what was a sellers’ market before the Brexit vote and buyers’ market in the early months after it, may now be somewhere in between and the market might just be coming back into balance.
However, all this will mean property values won’t continue to grow at the same extent they have been over the last 12 to 18 months, and in some months (especially on the run up to Christmas and early in the New Year), values might dip slightly. This won’t be down to Brexit but a re-balancing of the Bexhill Property Market – which is good news for everyone.
For more thoughts on the Bexhill Property Market, please visit the Bexhill Property Blog at www.bexhillpropertyblog.com