Top 25 Most Saleable Streets in Burgess Hill.

Following on from my last article, if you recall I said that Junction Road had the most properties sold in the RH15 Burgess Hill postcode, yet I felt that this information wasn’t telling the whole story, as some roads in Burgess Hill have more properties on them than others. Therefore, I promised that I would compare the average number of properties sold by the actual number of properties on that street, to find out the streets whose owners proportionally moved (or sold) more often than the rest of the locality.

To give some foundation to the article, in 2017 Burgess Hill homeowners had, on average, lived at their existing address for 17 years and 6 months. However, when I looked at the difference between homeowners with and without a mortgage; Burgess Hill homeowners without a mortgage had lived in their Burgess Hill home for an average of 23 years and 9 months compared with 10 years and 1 month for homeowners with a mortgage. Interestingly, Burgess Hill’s Mid Sussex Council house tenants have on average resided at their present home for 11 years and 4 months, whilst finally for those who rent from a private landlord, tenants generally have lived in their property for an average of 3 years and 11 months (up from 3 years 5 months only five years ago).

The RH15 Street in the top 25 saleable streets with the highest number of households on it is Junction Road, which has 304 residential addresses. Yet since 1995, only 367 properties have changed hands (some multiple times!), which means the street’s saleability or churn rate is 120.7%.

However, the road that has the highest saleability or churn rate is Parkside, which is a little cul-de-sac of just 30 purpose built flats on it, yet since 1995 there have been 117 sales, a saleability rate of 390.0%. Here is the full breakdown of the top 25 streets.

So, as you can see, some interesting statistics and a lot more correlation between saleability rate and property values (unlike the article last time where we compared value to ‘out and out’ raw sales figures).

Therefore, what does this all mean to Burgess Hill homeowners and Burgess Hill landlords?  Well these 25 streets are the best performing streets out of the 430 streets in the Burgess Hill (RH15) area so if you live/own a property on those 25 streets you are sitting on a very saleable street. If you want to find out how saleable your street is please drop me a line and we can discuss this further.

 

Junction Road, Burgess Hill. The road where people move the most.

Many folks say moving home is the most stressful thing. Moving home is like someone (and that someone is usually you and you are the cause of this devastation) has collected all your worldly goods, put them into brown boxes and into a lorry making your whole life look like a Amazon delivery van, only to spend the next six months unpacking it all, whilst unable to find important things like your bank cards, ‘those’ shoes or special jewellery!

When you decide to move and before the stress of living out of cardboard boxes for months descends; first you trawl the portals (Rightmove/Zoopla/On The Market) to find a new house, which out of the hundreds of properties available to buy, you will probably only view around four or five of them, for no more than 20 minutes each. Then, you will arrange a second viewing of one or two of those initially viewed properties for the estate agency industry stated average of 30/45 minutes maximum (fascinating when you think most people take hours to decide what clothes or shoes to buy but minutes to spend hundreds of thousands of pounds on their next home!). Then you put your property on the market with an estate agent, find a buyer for your Burgess Hill property, agree a price for both, and then instruct solicitors. The property becomes sold ‘subject to euphemism’ sorry ‘contract’ as solicitors and surveyors and mortgage companies pick holes in the paperwork, threatening to wreck the chain at any moment, whilst you can’t get too attached to the property you want to purchase in case the sale falls through phew - stressful or what??!!

Is it worth it? Worth the stress? The brown cardboard boxes? Well many Burgess Hill people think so.

In the last 12 months, 445 families have sold and moved home in Burgess Hill (RH15)

Yet the question I want raise is; do people on certain streets in the RH15 postcode move more often than others? Well, the answer might surprise you. I looked at the Land Registry for the all the property sales going back 23 years (to 1995) in the RH15 postcode whilst also calculating the average value of a property on a particular street/road (to see if there was a correlation between price and moving). So initially looking at the top 10 streets in the postcode, in terms of pure out and out house sales, Junction Road is the winner with an average of 15.96 house sales per year (since 1995) as on the graph below.

And to look at the bigger picture, the table below shows the top 25 streets, with the average value of a property on that street.  As you can see, there is no correlation between the average value of a property and the number of times a property gets sold on that street.

However, I still felt the information wasn’t telling the whole story; some roads in Burgess Hill have many more properties on than others, so I wanted to then compare the average number of properties sold by the actual number of properties on that street, to find out the streets whose owners proportionally moved (or sold more often) than the rest of the locality.

In the next article I will answer that question in great depth and the results should (as they did me) certainly raise an eyebrow. The question is; do you live on one the top 25 Burgess Hill most saleable streets in Burgess Hill?