Horsham House Prices Reach Record High
- House prices in West Sussex are 4.5% higher than one year before.
- House prices in the Horsham and Mid Sussex set their highest record this spring.
- New builds are up 16% and pre-existing homes are up 2% YoY.
- Land Registry data shows sales volume is still well below normal levels.
- Property prices in West Sussex are just 2% behind the peak of November 2022; many districts will break records this summer.
- Chichester remains the most expensive district to buy a home in West Sussex. Worthing is the most affordable.
- Horsham has the lowest crime rate.
- Crawley has the greatest 10-year property price growth. Year-on-year, it's Crawley and Horsham.
- Across South East England, house prices are expected to increase 2.5% through 2025, and 16.5% over the 5 years to 2029 (Savills).
Are house prices going up in West Sussex?
Average house prices across West Sussex have risen 4.5% since the same time last year, falling behind England and Wales, at 6.6% house price growth in the same period.
Average house prices in West Sussex peaked in November 2022 at £388,692 and are now just 2% under that peak. We expect homes in West Sussex to reach their highest prices yet later this year.
Slowest January for West Sussex property sales since 2020
January saw just 633 property sales across the region; 16% down on 2024 and 38% down on 2020. Monthly property sales in West Sussex haven't been this low since lockdown, and before that, in the aftermath of the 2008 credit crunch.
We expect emerging spring data to reflect what we're already seeing at SAM; the market is heating up for a buoyant summer. However, rising inflation and affordability challenges will continue to limit movement in the property market.
Will there be a UK recession in 2025?
The Quarterly Economic Forecast (QEF) predicts the UK economy will grow by 1.3% in 2025 and 1.5% in 2026. Source: British Chambers of Commerce (BCC).
This, however, is well below the pre-pandemic average. NEISR estimate that Britain's poorest households will not recover fully until 2027.
How does the Bank of England affect the West Sussex Housing Market?
Borrowing has been slowly returning to a more affordable level. The May cut to 4.25% means that mortgage rates are already lower, and the base rate will likely fall further in August following our predicted energy price drops.
As the market picks up momentum, prices will be driven steadily upward, particularly in more affordable areas, as we can see already in Crawley. Oxford Economics predicts the base rate will fall to 2.5% in 2027.
Are you thinking of buying or selling a property in West Sussex?
Mid Sussex and Arun have the most active property markets YoY
Sales volume across West Sussex is -16% year-on-year (YoY), but Mid Sussex and Arun property sales are up 4% and 3% respectively.
The 16% drop across West Sussex is more pronounced than the national average, down by 13% overall. Arun is doing the best for long-term sales activity, only 25% down compared to 2020. In contrast, Crawley is 52% behind 2020.
The largest town in Mid Sussex is Haywards Heath, a small commuter town with a bustling high street, steam railway, and beautiful scenic walks around formal gardens or the Ouse valley viaduct.
Are houses in West Sussex Expensive?
Average property prices in West Sussex vary by district from £316,979 to £451,477.
Average house prices in Chichester are highest at £451,477; 18% more expensive than the average for West Sussex (£381,282), and 56% higher than the average for England and Wales (£289,817).
Chichester is the only city in West Sussex, on the Chichester Canal and River Lavant. The ancient city walls sit on roman foundations and
Where is the cheapest place to buy in West Sussex?
The most affordable average homes, overall, are in Worthing. However, the cheapest average price per property type is in Arun. This is because a greater proportion of homes in Worthing are flats and maisonettes, versus houses.
Arun is a coastal district containing the downs of Arundel, Littlehampton and Bognor Regis. The district has beautiful beaches, Binsted forest, and the picturesque River Arun. Parts of Arun fall in the South Downs National Park.
Record high for property prices in Horsham and Mid Sussex
While national average house prices have recovered from their latest dip and are setting new record highs this spring, West Sussex and five of the seven districts within it, have yet to beat their peaks set in October or November 2022.
Horsham has the most expensive detached, semi-detached, and terraced houses. Chichester has the most expensive flats and maisonettes. Horsham is a historic market town on the River Arun with good schools, leisure facilities, and excellent transport links, just 31 miles from the capital.
Mid Sussex has the second most expensive houses and the third most expensive flats and maisonettes. The district is nestled in the South Downs National Park and offers rural tranquillity, urban convenience, and an array of outdoor pursuits.Long-term West Sussex property market investment
Crawley has the strongest 10-year price growth at 67%, followed by Worthing at 64%. Horsham and Chichester are faring the worst, at 46% and 48% growth, reflecting a common theme that the growth at the upper end of the market is limited by affordability, particularly under the current cost-of-living difficulties.
Crawley boasts an array of attractions including beautiful parklands, The Hawth modern theatre, and Hounds immersive experiences.
New homes in West Sussex are now 43% more expensive than existing properties
New houses cost more. However, the difference never reached 30% until November, followed by 38% in December and 43% in January, according to the latest data published by the Land Registry. New homes are now worth nearly half as much again as pre-existing homes in West Sussex.
Interestingly, other regions are being affected to greater extremes, with new builds in the North East an eye-watering 118% dearer than existing homes.
The average cost of a new build in West Sussex soared by 16% in 12 months.
This unprecedented increase is likely caused by increased building costs, developers building larger homes for greater profit margins, and the squeeze on available development land.
If you exclude newly-built properties, you can see that price growth on existing properties in West Sussex has been fairly static or negative since the peak in 2022. This is great news for hopeful first-time buyers looking to buy a pre-existing home and are still saving for a deposit, as existing property in West Sussex is only 2% higher than 12 months prior, almost in line with general inflation.
What is the safest borough in West Sussex?
Horsham, Mid Sussex, Adur and Chichester are the safest parts of West Sussex. Crawley has the highest crime rate and is the only district with a higher crime rate than the national average.
Crime rates will affect your insurance premiums and potential rental yield and may affect your peaceful enjoyment of the property.
Should I buy a house in West Sussex?
West Sussex is a top choice for homeowners
- Commuter proximity to London, Brighton, Portsmouth or Southampton.
- Resilient property market.
- Bognor Regis is one of the sunniest places to live in the country
- Excellent transport links.
- Rental investment provides income returns of over 10% higher than any other UK region.
- Stunning south coast beaches and cliffs.
- Employment opportunities in wholesale and retail trade, distribution, hotels & restaurants, and banking, finance & insurance.
- Gatwick Airport
House prices are ever rising, and the cost of borrowing will likely fall further in July, as long as energy prices fall this summer. If you can afford to buy before house prices increase further, you'll likely be able to switch to an even more affordable mortgage rate in 2027; by this point, the value should have risen a few per cent, and you'll have built equity by making your mortgage payments.
Across the South East, house prices are expected to increase 16.5% over the 5 years to 2029 (Savills).
If you are renting and can afford to buy at the current rate of interest, this may be a much more desirable option than saving for a bigger deposit, as rents are still rising, whereas mortgage rates are likely to fall.
However, if you are stretching your budget to buy, consider saving a bit longer or opting for a more affordable borough. If the base rate rises again, you may be unable to keep up with your monthly repayments when your fixed rate ends.
Worse yet, if prices fall, you could end up in negative equity, owing more money than your home is worth. Buying a home with a mortgage always comes with risks. Your home may be repossessed if you do not keep up repayments on your mortgage.
If you are ready to buy a house in West Sussex or the surrounding area, we can handle your purchase with a dedicated SAM Conveyancing Consultant to manage your transaction alongside one of our hand-selected panel solicitors.
"We're set for a buoyant summer with more homes for sale and more affordable mortgages."
- Andrew Boast FMAAT MIC
CEO and Author | SAM Conveyancing
Sources: Latest data from - Gov.UK, Bank of England, UK House Price Index, Savills.
Caragh is an excellent writer and copy editor of books, news articles and editorials. She has written extensively for SAM for a variety of conveyancing, survey, property law and mortgage-related articles.
Andrew started his career in 2000 working within conveyancing solicitor firms and grew hands-on knowledge of a wide variety of conveyancing challenges and solutions. After helping in excess of 50,000 clients in his career, he uses all this experience within his article writing for SAM, mainstream media and his self published book How to Buy a House Without Killing Anyone.
Without Killing Anyone
This book could be the difference between every mover’s dream, buying and moving into your new home stress free, or, stress, missed deadlines, legal disasters, building defects, and possibly the collapse of the whole transaction. (Costing you a small fortune, a head full of grey hairs, and, driving you to threaten the life of your solicitor, lender, co-owners, family, partner, or some combination of all five).
With more than two decades’ experience in the conveyancing sector and over 50,000 successful client moves under his belt, Andrew shares insider tips and advice to empower you as a buyer, giving you the tools to make the best decisions for your circumstances and ease the chaos.
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