From the city to the countryside A West Sussex “property bubble” by Martin Lundy Lester

The housing market in our beautiful little corner of the South East has always felt more resilient to change than other areas of the country. It's as if we live in a property bubble in West Sussex.

Almost half of buyers from South London & Surrey

Balancing out the housing market

As such, I’m seeing fewer and less dramatic price amendments downwards whilst the UK housing market finds itself shifting from a period of "supercharged" activity. There's a little cooling of asking prices, as agents and sellers come to terms with the move from a "seller's market" to something more balanced than the last couple of years. Of course, if one is buying and selling in the same area, then any dip in selling price may also be negotiated with the onward purchase. Local families moving up the property ladder Industry commentators suggest that downsizers will form a larger part of estate agents' databases over the coming months. This combined with increased mortgage availability and lowering of High Street lenders' mortgage rates (despite the Bank of England's recent forecast of an increase in base rates), may mean that local families take the opportunity to move up a rung of the property ladder. Rents are rising too, prompting cash rich savers to move their money into Buy To Lets across segments of the market. No matter what happens in 2023, buyers will continue to buy and sellers will continue to sell. It's a super area to live and work in and always will be. www.kwuk.com/agent/martin-lundy-lester