Homeowners in parts of Sussex saw the value of their properties shoot up by almost 50 per cent last year.

The price of a three-bedroom semi-detached house in Ditchling rose by an average of 46 per cent to £285,000.

It was a similar story in Hurstpierpoint, where the cost of a three-bedroom flat rose on average from £120,000 at the end of 2001 to £170,000 a year later.

The findings came from an annual review by estate agents Clifford Dann, which found price increases were most significant in more expensive areas.

A two-bedroom semi-detached bungalow in Lewes rose from £145,000 at the end of 2001 to £175,000 a year later.

Overall, prices in Sussex increased by an average of 20 per cent.

Andrew Pridell, chairman of Clifford Dann, said: "Most people these days consider their house not only to be a home but an investment.

"It is, of course, relative. If you get more for the one you are selling, you are going to have to pay more for the one you are buying."