Why the homes that are well priced are the ones actually selling in BN11

Two homes on the same BN11 street can have a completely different experience of the market this autumn, and price is almost always the reason. Here's why the homes that are well priced are the ones actually selling, and what it means for you.

The Bank of England base rate is sitting at 3.75%. Nationally, prices are up 1.8%. Here in BN11, that headline number is hiding a real split, and if you're thinking about buying or selling it's worth knowing which side of it your home sits on.

What homes are actually going for in BN11

• Detached: £611,750
• Semi-detached: £450,046
• Terraced: £342,851
• Flat: £210,181

The gap between a semi and a detached home is over £160,000. That's not a rounding error, that's a different market.

Seven years on, most homes have gone nowhere

Look back to seven years ago and the picture gets sharper. A semi-detached home in BN11 is worth £13,143 less today. A flat is down £8,574. Across all property types, average growth over seven years has been £30. Wages have gone up 4% in that time. Borrowing costs have not made buyers braver, they've made them cautious.

Why detached and flats are moving in opposite directions

We're in a buyer's market right now, 467 homes for sale in BN11 and buyers who can afford to be picky. With inflation at 3.1%, everyone's money is worth a little less, and that's sharpening people's choices.

Detached homes have held up best, down only 1.1% over seven years. Buyers at this level tend to be less exposed to interest rate moves.

Flats have taken the biggest hit, down 3.9%. First-time buyers are exactly who feels a higher base rate hardest, and they're the ones buying flats.

What this means if you're selling

If you own a detached home, don't read the quiet market as a warning sign. Rare, well-presented homes are still finding buyers.

If you're selling a flat, patience and presentation matter more right now. It needs to look its best to earn attention in a market where buyers have plenty of choice. See how I work with sellers.

What this means if you're buying your first home

This is arguably the best window BN11 has offered first-time buyers in years. Flat prices are lower than they were seven years ago, wages are higher, and you have more room to negotiate than the generation before you did. Thinking about buying?

Looking ahead

I'd back terraced homes to lead demand over the next year, particularly the kind of family houses with a garden and no flat above or below. Not too big a budget, not too small a home. That's where I'd expect the interest to build.

If you want an honest read on what your home is actually worth in this market, I'm easy to reach: 07440 782352.

Follow @propertyofWorthing on Instagram for weekly Worthing market updates.

Quick answers: well-priced homes in BN11

Why are well-priced homes the ones selling in BN11?

With 467 homes for sale in BN11 and a buyer's market in full swing, buyers can afford to be choosy. Homes priced against today's market, not last year's comparables, are the ones that stand out and sell.

What is the average house price in BN11, Worthing?

Detached homes average £611,750, semi-detached £450,046, terraced £342,851 and flats £210,181. The gap between a semi and a detached is over £160,000.

Are BN11 house prices going up or down?

Nationally prices are up 1.8%, but in BN11 most types have gone nowhere over seven years. Detached homes are down just 1.1%, while flats are down 3.9% over the same period.

Is now a good time to buy a flat in BN11?

For first-time buyers, yes. Flat prices are lower than they were seven years ago, wages are higher, and there's more room to negotiate than in recent years.