Eastbourne house prices dropped more than South East average in March

By Sonja Tutty, Data Reporter
Published 24th May 2023, 14:40 BST
General view of estate agents signs outside a block of flats in Basingstoke, Hampshire.General view of estate agents signs outside a block of flats in Basingstoke, Hampshire.
General view of estate agents signs outside a block of flats in Basingstoke, Hampshire.
House prices dropped by 4% – more than the average for the South East – in Eastbourne in March, new figures show.

House prices dropped by 4% – more than the average for the South East – in Eastbourne in March, new figures show.

But the drop does not reverse the longer-term trend, which has seen property prices in the area grow by 4.6% over the last year.

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The average Eastbourne house price in March was £299,457, Land Registry figures show – a 4% decrease on February.

Over the month, the picture was different to that across the South East, where prices decreased 0.4%, and Eastbourne was lower than the 1.2% drop for the UK as a whole.

Over the last year, the average sale price of property in Eastbourne rose by £13,000 – putting the area 45th among the South East’s 64 local authorities with price data for annual growth.

The highest annual growth in the region was in Sevenoaks, where property prices increased on average by 11.5%, to £544,000. At the other end of the scale, properties in Oxford lost 0.9% of their value, giving an average price of £466,000.