Worthing Property Market Update: Decline in House Prices Exceeds South East Average

In September, Worthing experienced a notable decline in house prices, surpassing the average for the South East region, according to recent figures. The property market in Worthing saw a 1.4% drop during this period, contributing to an ongoing trend that has led to a 3.6% annual decrease in property prices within the area.

The average house price in Worthing for September, as reported by Land Registry, stood at £344,664, reflecting a 1.4% decrease from the previous month. Interestingly, this contrasts with the broader South East, where prices experienced a 0.6% decrease, and Worthing’s decline exceeded the 0.5% drop observed across the entire UK.

Over the past year, Worthing witnessed a £13,000 reduction in the average sale price of properties, positioning the area 53rd among the 64 local authorities in the South East with available price data for annual growth.

Comparatively, Test Valley boasted the highest annual growth in the region, with property prices increasing by an average of 8.6%, reaching £440,000. On the flip side, Hastings faced a substantial decrease of 9.7% in property values, resulting in an average price of £266,000.

Buyers in Worthing paid 12.1% less than the South East’s average property price of £392,000 in September. While property prices across the South East tend to be higher than the UK average of £291,000, Worthing remains an area with more affordable housing options.

Annual property price change to September

  • Worthing: -3.6%
  • The South east: -1.4%
  • UK: -0.1%

Average property price in September

  • Worthing: £344,664
  • The South east:£392,174
  • UK: £291,385
Posted on: November 19, 2023, by :