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LONDON-Latest figures from agency Knight Frank show that prime house prices in East Sussex have soared by a staggering 16.5% over the last 12 months. Knight Frank has also reported that there is ‘a distinct shortage’ of property for sale worth between £850,000 ($1.22 million) and £1,250,000 ($1.8 million).

The biggest attraction of East Sussex is that London can be reached by train in little over an hour from all but the coastal towns while purchasers have been able to realise a good deal more property for their money than they canin the capital while still being able to travel to work without too much difficulty.

However, the downside to the price rise in prime property is that a good deal more secondary accommodation is coming to the market with supply levels jumping by over 15% in the last year, some of which has been placed on themarket in poor condition.

Gavin Selbie, partner at Knight Frank’s Tunbridge Wells office in Kent, which covers the East Sussex marketplace says, ‘Property in good condition sells fast. There has been a notable trend in households moving less oftenand, as a result, many homes are brought to the market that have not been decorated or modernised for between 15 and 20 years. These will take a lot longer to sell than their modernised counterparts.’

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