Are Brighton Property Prices Seasonal?

Brighton is one of the UK’s best-loved towns, and for good reason. It’s got one of the best seafronts in the country, with an iconic pier and miles of pebbly beaches to explore. Between the Artist’s Quarter and the Lanes, the shopping experience is like no other. And then there’s the vibe — Brighton is a fun-loving party town that celebrates individuality. If you’re thinking about moving, selling up or investing, you might be wondering; what is happening to property prices in Brighton? Let’s take an in-depth look into the Brighton property market, see how seasonality is affecting prices and the impact for sellers and buyers.

Current property market

Brighton’s property market has seen significant activity in the last year. The average property price stood at £483,403, with flats leading sales at an average of £333,285. Terraced properties and semi-detached homes followed, averaging £566,069 and £524,212 respectively. Compared to the previous year, prices fell by 3% but were 5% up from their peak in 2021.

What is the best time of year to buy in Brighton?

Now that you know a bit more about the average cost of different properties in Brighton, you may be wondering if there is a seasonal fluctuation.

According to Nationwide’s house price index, there was a 0.2% fall in average house prices in August, so if you’re looking to buy, this may be a good time to put an offer in on a Brighton property. Why this dip in prices is seen isn’t altogether clear, however, it’s thought that it could be due to demand dropping due to the summer holidays, where people may be busy or spending time out of the house for example. 

How long does it take to sell property in Brighton?

Shifting the focus to selling durations, the past 90 days saw the sale of 2,645 properties in Brighton. On average, properties were sold within 115 days, indicating a selling period of just under four months. It’s noteworthy, however, that these selling times tend to vary depending on the property’s price bracket, as well as seasonality. The spring is considered the best time to sell, when buyers have access to more funds and properties are looking their best. 

For properties priced under £100,000, there was an average selling time of 92 days. In the £300,000 to £400,000 range, 568 properties sold, taking an average of 101 days to sell. For those priced between £400,000 and £500,000, 435 properties sold with an average selling time of 115 days.

In the higher price ranges, properties priced between £500,000 to £1,000,000 bracket, 638 properties were sold, averaging 119 days on the market. For properties over £1,000,000, there were 117 sales with an average selling time of 82 days. This data shows a clear trend: properties at the lowest and highest price bands in Brighton tend to sell faster than those in the mid-price ranges, with seasonality potentially affecting their time on the market.

The future of Brighton’s property market

Overall, the Brighton property market has experienced steady growth, with average property prices surpassing the UK national average. This is due to a combination of factors: there is strong demand for housing in this popular city with limited housing supply, as well as the city’s appeal as a tourist destination.

Looking to sell in Brighton?

If you already own a property in Brighton and you’re looking to sell your house fast, we can make this super easy for you. At SellHouseFast.co.uk, we are cash house buyers, enabling us to cut out lengthy processes usually associated with banks and other mortgage lenders, resulting in a much quicker sale. Get a free cash offer via our website and let us help you with your Brighton sale!