Hove Home Listed at £2.5 Million Sparks Outrage Among Buyers

A couple in their late 80s has sparked widespread outrage among house hunters after listing their semi-detached home in Hove, East Sussex, for a staggering £2.5 million—almost £2 million above the average asking price for properties in their neighborhood. The property, which the couple purchased for £750,000 in 2010, has drawn reactions of 'shock' and 'disbelief' from residents and potential buyers alike, who argue that the price is exorbitant considering the home's ordinary appearance and less-than-ideal location.

Situated just 100 yards from the beach, the residence is described by locals as having a desirable coastal location. However, critics highlight significant drawbacks, including its proximity to a block of high-rise flats and a busy road known for a high crime rate. According to property experts at Purple Bricks, the average sale price for homes on the same street is approximately £600,000, raising questions about the steep asking price.

One local resident expressed incredulity, stating, 'It's incredible how much house prices have risen in the last 15 years, but I’d never expect a house to be on the market for so much—it's a king's ransom.' Another resident remarked that while the home has been well-maintained and offers a large interior space, it lacks the visual appeal typically associated with multi-million-pound properties.

The listing has ignited a debate on the rising property prices in the UK, particularly in coastal areas like Hove, where the average cost of a detached house is approximately £846,600. Barbara Crafts, a neighbor, defended the couple, noting the property's spacious interior and features such as walk-in dressing rooms, which provide a sense of luxury that may not be immediately apparent from the outside.

Despite the criticism, some neighbors argue that the owners have invested significantly in the property, enhancing its value. Rachel Dent, another resident, commented on the home's large living space, stating, 'It is deceptive as from the outside it looks like it could be in any street in Britain, but it goes back a long way and is really very big.'

The couple’s motivation for selling appears to be a desire to downsize, with neighbors noting their advanced age and the need for a more manageable living situation. The ongoing discourse surrounding the property highlights broader concerns about the housing market in the UK, particularly in areas experiencing rapid price escalations.

In the past year, similar cases have attracted public scrutiny, including a London house listed at £3.5 million that was deemed overpriced by many. The ongoing trend of exorbitant property listings has raised questions about market sustainability and the future of housing affordability in the UK.

As the Hove couple navigates the sale of their home, the situation underscores the complexities of the current real estate market and the varying perceptions of property value among buyers and sellers. Moving forward, it remains to be seen whether the couple will adjust their asking price in light of the overwhelming negative feedback or if they will hold firm in anticipation of a buyer willing to meet their lofty expectations.