Lewes house prices increased more than South East average in October

House prices increased by 1% – more than the average for the South East – in Lewes in October, new figures show.

The rise contributes to the longer-term trend, which has seen property prices in the area grow by 14.3% over the last year.

The average Lewes house price in October was £419,190, Land Registry figures show – a 1% increase on September.

Over the month, the picture was different to that across the South East, where prices increased 0.1%, and Lewes was above the 0.3% rise for the UK as a whole.

Over the last year, the average sale price of property in Lewes rose by £52,000 – putting the area 11th among the South East’s 64 local authorities with price data for annual growth.

The highest annual growth in the region was in Rother, where property prices increased on average by 19.6%, to £401,000. At the other end of the scale, properties in Guildford gained 6.5% in value, giving an average price of £533,000.

Average UK house prices increased by 12.6% in the year to October, accelerating from 9.9% in September.

The increase in the annual percentage change was partly caused by a sharp fall in average house prices in October 2021, following changes to stamp duty.

The average UK house price was £296,400 in October, which was £33,000 higher than a year earlier.

Tom Bill, head of UK residential research at Knight Frank, said: “Despite today’s figures, double-digit UK house price growth is now a thing of the past.

“Even as the reverberations of the mini-budget fade, a more adverse lending landscape is emerging after 13 years of ultra-low rates."

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