Brighton and Hove property prices have risen again showing that Brighton is living up to its ‘London-By-The-Sea’ reputation.
The average house price is now £342,959. The previous high in 2007 saw average property prices reach £257,108 and we’ve managed to trump this by a staggering 33%. Prices have risen across the rest of the Country too though, meaning that property prices in Brighton are 53% higher, down from 59% last quarter.
To purchase a one bedroom flat in Brighton cost £248,709 in the second quarter of 2016 (a 15.6% increase from a year ago) and would require an income of almost £60,000 and a deposit of £62,1777.
To purchase a three bedroom house cost £437,666 in the second quarter of 2016 (a 13.2% increase from a year ago) and would require an income of £101,000 and a deposit of £109,416.
Rent in Brighton has seen a small increase too with a one bedroom flat costing £920 per month, up from £917 a year ago.
Are you trying to purchase a home in Brighton? Do you need some help obtaining the best mortgage for your circumstance? Contact our team and see how we can assist you. Tel. 01273 736536.
Original Source: http://www.brightonbusiness.co.uk/htm/ni20160511.078920.htm