It’s always great to have some positive news in the property market and we are pleased to see that recently a 10% increase in sales of new build properties in England and Wales has been reported for the period of May 2018 to May 2019.
The official data has been made available through the Land Registry who of course take note of every property sale that takes place. It’s not a surprise to us that new build sales have increased. We have seen very many fantastic new developments over the last year and are even marketing properties that will be available in the future in 2020 because there has been so much interest in new homes in Sussex.
In the last year there were 12,423 new build homes sold in England and Wales, and we have been lucky to be able to assist in the sale of many of the new developments across Sussex and in particularly Brighton and Hove. We are seeing a rise in popularity of rural locations on the outskirts of Brighton such as Ringmer and rural Lewes.
The market for older properties remains buoyant
The report didn’t just focus on new builds however and it’s obvious that older properties will still be coming to market as the vendors move to a new build. The most popular types of older houses are terraced and semi-detached properties. Brighton and Hove certainly have their fair share of terraced properties in the Queens Park and Portslade areas and these make great starter homes for first-time buyers or are a sensible move for growing families.
As well as the more affordable family homes, we have also been very fortunate to be involved in the sale of some prestige homes listed over the £1 million mark. There were just 459 sales of £1 million+ homes in England and Wales in the year reported so we feel lucky to have access to these kinds of properties and are very proud to market them within our residential sales offering.
Encouraging Commercial Sales figures
There were some impressive Commercial Sales figures too, with the largest sale taking place in Westminster at £74,000,000. Again, we have been pleased to make some significant sales within our own Commercial Property team, including significant land opportunities.
However, we missed the mark somewhat on the cheapest property to be purchased in England and Wales last year; a commercial sale took place in the Isle of Wight for just £200!
If you’d like to know more about our Sales services, including land sales, commercial sales, development marketing and residential sales, please get in touch with the relevant department and we’ll be happy to help. You can find all our contact details here: https://oakleyproperty.com/contact-oakley
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