Brighton boom causing action against second homes
Publish Date: 22 June 2022
By Jade Shrubsole
Further reading
Important things to consider when viewing a property
Lots offered up from 2021, but records show buyers should prepare for Christmas!
Brighton is one of the first cities in the UK to start taking action against second homes and holiday lets. It comes since the pandemic where Brighton saw an influx of buyers purchase second homes and holiday lets pushing the average house price to over £500,000.
Looking on our EIG website at the trend anaylsis for properties at auction in BN1 you can clearly see a huge rise with the average house price of properties sold at auction already reaching an average of £664,500 so far in 2022. Thats compared to the average sale price being £260,667 back in 2020! This clearly demonstrates higher value properties are being sold at auction when compared to previous years. Not withstanding that properties prices have increased due to the increase in holiday lets and second homes.
Councillors have asked for action since a report was made that around 3000 properties are being used as holiday lets. The ban, which is subject to a public consultation in September, will stop people from buying new homes and plots in the area except as their main living residence.
To view trend analysis in an area you are looking to buy run a search on our website and click the 'trend analysis' icon. This will bring back a report based on the postcode/area you have searched.
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