Brighton and Hove house prices rise

Posted On 02 Jan 2010 at 5:53 am

House prices in the Brighton and Hove area have been among the fastest growing in the country over the past decade, according to Nationwide Building Society.

The average fourth quarter price in the city reached almost £277,000, up 139 per cent over the decade.

This meant that Brighton and Hove had the 12th highest house prices in the country – making the city more expensive than several London boroughs.

Although prices fell 7 per cent in the city in the third quarter, they rose 3 per cent in the final quarter.

The figures are included in the latest Nationwide House Prices Index which includes a breakdown of prices in more than 140 “sub-regions” across the United Kingdom.

The average house price in the UK was £162,116. The average price rise over the past year was 3.4 per cent, and the average quarterly change was 1.6 per cent.

Over the past ten years UK house prices rose 117 per cent in nominal terms, according to Nationwide. When inflation was taken into account this meant a rise of 68 per cent, compared with a 14 per cent fall during the 1990s.

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