A SUSSEX town has seen its house prices increase by more than anywhere else in the South East in the past year.

The price of property in Lewes rose on average by 13.2 per cent, bringing the average cost of a home in the town to £357,000 in March 2021.

The annual growth in Lewes was the highest recorded price increase within the South East, with the region as a whole recording a 7.9 per cent rise in prices, on average.

In Brighton and Hove, property prices rose by 11.9 per cent over the past year - also higher than the South East average.

The Argus:

In March alone, house prices in the city increased by 2.6 per cent on the previous month - compared with a 0.9 per cent rise across the South East, and a 1.8 per cent rise for the UK as a whole.

According to figures from the Land Registry, the average cost of a home in the city was £405,451 in March.

Over the past year, the average sale price of property in Brighton and Hove rose by £43,000 – putting the area eighth among the South East’s 70 local authorities for annual growth.

Owners of terraced houses saw the biggest rise in property prices - which leapt by 13.4 per cent over the year, to £446,769 on average in March.

The Argus:

Figures show the average detached property in the city cost £765,887 in March, while the average flat is priced at £322,583.

First-time buyers in Brighton and Hove spent an average of £355,000 on their property – £36,000 more than a year ago, and £60,000 more than in March 2016.

It means the average cost of a home in the city, at £405,451, is higher than both the average home in the South East, at £348,615, and the average home in the UK, at £256,405.

The highest property prices across the UK were in Kensington and Chelsea in west London, where the average March sale price of £1.3 million could buy 14 properties in Burnley in Lancashire, where the average is £94,000.