Burgess Hill Housing Crisis? Only 2% of Burgess Hill Homes Are For Sale.

The Burgess Hill Property Market continues to disregard the end of the world prophecies of a post Brexit fallout with a return to business as usual after the summer break.

The challenge every Burgess Hill property buyer has faced over the last few years is a lack of choice – there simply hasn't been much to choose from when buying (be it for investment or owner occupation). Levels are still well down on what would be considered healthy levels from earlier in this decade, as there is still a substantial demand/supply imbalance. Until we start to see consistent and steady increases in properties coming on to the market in Burgess Hill, the market is likely to see upward pressure on property values continue.

For example, in the last few months RH15 has seen an average of 87 new properties coming on to the market, not bad when you consider for the last year the average has generally been in the 30 to 50 ranges. With the average Burgess Hill property value hitting a record high, reaching almost £268,900 according to my research, this shortage of properties on the market over the last two years has contributed to this ‘fuller' average property figure, but there is a glimmer of hope that the Burgess Hill's supply crisis may be starting to ease.

As I write this article, 2.07% of Burgess Hill properties are up for sale. In terms of actual chimney pots, that equates to 219 properties on the market in Burgess Hill (within 2 miles of the centre of Burgess Hill) – which, when compared to only a year ago when that figure stood at 82, is a serious increase in the number of properties available to buy. Split down into the type of property, it makes even more fascinating reading; 

• Detached Properties in Burgess Hill  - 42 on the market a year ago compared to 106 on the market now – an increase of 152%
• Semi Detached Properties in Burgess Hill - 19 on the market a year ago compared to 55 on the market now - an increase of 189%
• Terraced Properties in Burgess Hill - 5 on the market a year ago compared to 23 on the market now - an increase of 360%
• Flats / Apartments Properties in Burgess Hill  - 12 on the market a year ago compared to 35 on the market now - an increase of 192%.

With realistically priced properties flying off the shelves and this increase in new properties, this is evidence of strength in the Burgess Hill housing market that many didn't expect. Many believed that the Burgess Hill property market wasn't going to be strong enough post Brexit - as what was a sellers' market before the Brexit vote and Buyers' market in the early months after it, may now be somewhere in between and the market might just be coming back into balance.

However, all this will mean property values won't continue to grow at the same extent they have been over the last 12 to 18 months, and in some months (especially on the run up to Christmas and early in the New Year), values might dip slightly. This won't be down to Brexit but a re-balancing of the Burgess Hill Property Market – which is good news for everyone.