Brighton and Hove house prices creep up in second quarter

Posted On 15 Aug 2011 at 5:31 am

House prices in Brighton and Hove inched up in the second quarter of the year, according to official Land Registry figures.

They suggest that the average price of a house rose 0.4 per cent from £216,669 in the first quarter to £217,515 in the second quarter.

The figure was down in the previous quarter and over the past year it has fallen 1.1 per cent compared with 2.5 per cent nationally.

The second quarter figure is 7 per cent below the high of £235,939, which was the average on November 2007.

The average cost of a one-bedroom flat was reported to have risen to £171,837.

According to the Brighton and Hove Business Forum and Economic Partnership, a first-time buyer would need a salary of £39,655 to buy an average price one-bedroom flat.

This is up from £38,467 and assumes a 25 per cent deposit and a mortgage multiple of 3.25 x income.

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