Figures show Brighton property prices are on the rise

The Argus: This mansion in Dyke Road Avenue, Brighton, is on the market for £2,500,000 with Mishon Mackay This mansion in Dyke Road Avenue, Brighton, is on the market for £2,500,000 with Mishon Mackay

BRIGHTON and Hove’s house prices are bucking the national trend, according to new figures.

The cost of buying a new home has increased by 2% on last year, with the average home in the city costing £310,981. Since 2002, house prices in the city have increased by 42%.

The Nationwide House Price Index results have not surprised the city’s estate agents, who say it has always been a desirable place to live.

They also agree a limited supply of homes coming on the market has pushed prices up.

‘Popular place’

James Epps from Oakley Residential, who is Brighton and Hove Estate Agent Association president for 2013, said: “Brighton and Hove is a popular place to live and is considered by many to offer a better quality of life.

“It’s commutable to London and close to the Downs and the sea and everything else that Brighton has to offer.

“Brighton is a very transient place and having a university also helps to bolster the market a bit.

“There’s not been a fantastic amount coming on the market in the last year or two so therefore what does come on tends to be sought after and snapped up, particularly centrally and along the seafront.

“It’s a slow but steady rise.”

Simon Candler from Baron’s Estates said particular areas where house prices are growing include New Church Road in Hove, Poets Corner in Hove, Hanover in Brighton, Queen’s Park and Seven Dials.

He said: “There are only a finite number of houses that come on the market and the demand for them is really good.”

Andy Garth from Barrie Alderton Estate Agents said: “There are technical reasons why house prices are continuing to rise in the city.

“Firstly the stamp duty threshold of £250,000 ended in March.

“A lot of people can’t afford to move so there are fewer houses coming on the market, so less supply but there is still a demand."

Alex Mackay from Mishon Mackay said: “The price increase does depend what part of the market you are working in.

“Between £250,000 and £600,000 I would agree there’s been some increase but at top end there hasn’t been much change.

“The value of your house is just what someone is prepared to pay for it.

“But this is a good indication that things are positive and people are thinking positively.”

Comments (19)

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11:28am Fri 4 Jan 13

jamus77 says...

Take with a pinch of salt. I think it depends very much on individual circumstances in this market. Finding the right buyer, having a strong negotiating position etc. I know people in the areas mentioned above who are in negative equity. The danger - for homeowners at least! - is that property in B&H is still significantly over-valued. Only time will tell...
Take with a pinch of salt. I think it depends very much on individual circumstances in this market. Finding the right buyer, having a strong negotiating position etc. I know people in the areas mentioned above who are in negative equity. The danger - for homeowners at least! - is that property in B&H is still significantly over-valued. Only time will tell... jamus77

11:28am Fri 4 Jan 13

jamus77 says...

Take with a pinch of salt. I think it depends very much on individual circumstances in this market. Finding the right buyer, having a strong negotiating position etc. I know people in the areas mentioned above who are in negative equity. The danger - for homeowners at least! - is that property in B&H is still significantly over-valued. Only time will tell...
Take with a pinch of salt. I think it depends very much on individual circumstances in this market. Finding the right buyer, having a strong negotiating position etc. I know people in the areas mentioned above who are in negative equity. The danger - for homeowners at least! - is that property in B&H is still significantly over-valued. Only time will tell... jamus77

11:44am Fri 4 Jan 13

hove dweller says...

hmmm. not sure i'd agree with prices going up - my very nice flat in exclusive hove address has just been valued at 15k less than bought for (in 2008)
hmmm. not sure i'd agree with prices going up - my very nice flat in exclusive hove address has just been valued at 15k less than bought for (in 2008) hove dweller

11:53am Fri 4 Jan 13

Spanners says...

hove dweller wrote:
hmmm. not sure i'd agree with prices going up - my very nice flat in exclusive hove address has just been valued at 15k less than bought for (in 2008)
Prices have gone up by 2% compared to last year.

2008 was the absolute top of the property market. No-one is claiming a rise on that point in time. The vast majority who bought in 2008 are looking at losses or holding their value at best.
[quote][p][bold]hove dweller[/bold] wrote: hmmm. not sure i'd agree with prices going up - my very nice flat in exclusive hove address has just been valued at 15k less than bought for (in 2008)[/p][/quote]Prices have gone up by 2% compared to last year. 2008 was the absolute top of the property market. No-one is claiming a rise on that point in time. The vast majority who bought in 2008 are looking at losses or holding their value at best. Spanners

11:53am Fri 4 Jan 13

Spanners says...

hove dweller wrote:
hmmm. not sure i'd agree with prices going up - my very nice flat in exclusive hove address has just been valued at 15k less than bought for (in 2008)
Prices have gone up by 2% compared to last year.

2008 was the absolute top of the property market. No-one is claiming a rise on that point in time. The vast majority who bought in 2008 are looking at losses or holding their value at best.
[quote][p][bold]hove dweller[/bold] wrote: hmmm. not sure i'd agree with prices going up - my very nice flat in exclusive hove address has just been valued at 15k less than bought for (in 2008)[/p][/quote]Prices have gone up by 2% compared to last year. 2008 was the absolute top of the property market. No-one is claiming a rise on that point in time. The vast majority who bought in 2008 are looking at losses or holding their value at best. Spanners

11:55am Fri 4 Jan 13

jamus77 says...

Why is everything being repeated?
Why is everything being repeated? jamus77

1:13pm Fri 4 Jan 13

Spanners says...

jamus77 wrote:
Why is everything being repeated?
a most profound and philosophical comment
[quote][p][bold]jamus77[/bold] wrote: Why is everything being repeated?[/p][/quote]a most profound and philosophical comment Spanners

2:01pm Fri 4 Jan 13

Fercri Sakes says...

It's quite annoying knowing that if you took the money from selling a poxy little one-bedroom flat in Brighton and bought a house abroad you'd more then likely be able to afford a mansion.

The UK housing prices are way too high for most people now. The article states they have gone up by 42% since 2002. I wonder how much they've gone up by from 1997? You could get spacious city-centre two-bedroom flats then for £45K. Now days that will be a quarter of a million pounds.
It's quite annoying knowing that if you took the money from selling a poxy little one-bedroom flat in Brighton and bought a house abroad you'd more then likely be able to afford a mansion. The UK housing prices are way too high for most people now. The article states they have gone up by 42% since 2002. I wonder how much they've gone up by from 1997? You could get spacious city-centre two-bedroom flats then for £45K. Now days that will be a quarter of a million pounds. Fercri Sakes

2:59pm Fri 4 Jan 13

Hoarder12345444 says...

Even if i had millions i'd never live on Dyke road. Over priced houses. 2.5 million doesn't get you a great deal. I'd prefer a much more modest house, who needs a 6 bedroom 4 bathroom house? My target will be to try to move back to Brighton if I can ever afford to. Prices in some parts of Brighton and Hove are insane and people are forced to pay high rents, which aint no fun. Many landlords making lots of money while the younger generations suffer and cant afford to buy because everywhere is so **** expensive.
Even if i had millions i'd never live on Dyke road. Over priced houses. 2.5 million doesn't get you a great deal. I'd prefer a much more modest house, who needs a 6 bedroom 4 bathroom house? My target will be to try to move back to Brighton if I can ever afford to. Prices in some parts of Brighton and Hove are insane and people are forced to pay high rents, which aint no fun. Many landlords making lots of money while the younger generations suffer and cant afford to buy because everywhere is so **** expensive. Hoarder12345444

3:01pm Fri 4 Jan 13

Hoarder12345444 says...

Spanners wrote:
hove dweller wrote:
hmmm. not sure i'd agree with prices going up - my very nice flat in exclusive hove address has just been valued at 15k less than bought for (in 2008)
Prices have gone up by 2% compared to last year.

2008 was the absolute top of the property market. No-one is claiming a rise on that point in time. The vast majority who bought in 2008 are looking at losses or holding their value at best.
Yep same as my flat in my mid sussex. Lost quite a bit of money. What makes me angry is, I've spent money of the lease extension, and the previous owners made about 70k in 5 years. They did do it up a bit, but I'll never make anywhere near that.
[quote][p][bold]Spanners[/bold] wrote: [quote][p][bold]hove dweller[/bold] wrote: hmmm. not sure i'd agree with prices going up - my very nice flat in exclusive hove address has just been valued at 15k less than bought for (in 2008)[/p][/quote]Prices have gone up by 2% compared to last year. 2008 was the absolute top of the property market. No-one is claiming a rise on that point in time. The vast majority who bought in 2008 are looking at losses or holding their value at best.[/p][/quote]Yep same as my flat in my mid sussex. Lost quite a bit of money. What makes me angry is, I've spent money of the lease extension, and the previous owners made about 70k in 5 years. They did do it up a bit, but I'll never make anywhere near that. Hoarder12345444

3:08pm Fri 4 Jan 13

Fercri Sakes says...

Hoarder12345444 wrote:
Spanners wrote:
hove dweller wrote:
hmmm. not sure i'd agree with prices going up - my very nice flat in exclusive hove address has just been valued at 15k less than bought for (in 2008)
Prices have gone up by 2% compared to last year.

2008 was the absolute top of the property market. No-one is claiming a rise on that point in time. The vast majority who bought in 2008 are looking at losses or holding their value at best.
Yep same as my flat in my mid sussex. Lost quite a bit of money. What makes me angry is, I've spent money of the lease extension, and the previous owners made about 70k in 5 years. They did do it up a bit, but I'll never make anywhere near that.
I think that's one of the major issues though as too many people think of property as an investment, rather than a place to live.

The interest rates are kept low for homeowners; there are a huge number of BTL mortgages for people looking to make some money from nothing; most benefits end up in landlord's pockets; and those without a mortgage will need to save up over £100K (on average for Brighton) just to get on the ladder.

We're leaving a generation behind so that a few people can make some money.
[quote][p][bold]Hoarder12345444[/bold] wrote: [quote][p][bold]Spanners[/bold] wrote: [quote][p][bold]hove dweller[/bold] wrote: hmmm. not sure i'd agree with prices going up - my very nice flat in exclusive hove address has just been valued at 15k less than bought for (in 2008)[/p][/quote]Prices have gone up by 2% compared to last year. 2008 was the absolute top of the property market. No-one is claiming a rise on that point in time. The vast majority who bought in 2008 are looking at losses or holding their value at best.[/p][/quote]Yep same as my flat in my mid sussex. Lost quite a bit of money. What makes me angry is, I've spent money of the lease extension, and the previous owners made about 70k in 5 years. They did do it up a bit, but I'll never make anywhere near that.[/p][/quote]I think that's one of the major issues though as too many people think of property as an investment, rather than a place to live. The interest rates are kept low for homeowners; there are a huge number of BTL mortgages for people looking to make some money from nothing; most benefits end up in landlord's pockets; and those without a mortgage will need to save up over £100K (on average for Brighton) just to get on the ladder. We're leaving a generation behind so that a few people can make some money. Fercri Sakes

5:38pm Fri 4 Jan 13

jamus77 says...

Spanners wrote:
jamus77 wrote:
Why is everything being repeated?
a most profound and philosophical comment
I thought so.
[quote][p][bold]Spanners[/bold] wrote: [quote][p][bold]jamus77[/bold] wrote: Why is everything being repeated?[/p][/quote]a most profound and philosophical comment[/p][/quote]I thought so. jamus77

7:04pm Fri 4 Jan 13

Gaz Scott says...

Is it really any wonder the city's most vulnerable people are forced to squat when B&h's property prices continue to rise and rise.

These people don't want to squat but have no choice.
Is it really any wonder the city's most vulnerable people are forced to squat when B&h's property prices continue to rise and rise. These people don't want to squat but have no choice. Gaz Scott

10:31am Sat 5 Jan 13

Ballroom Blitz says...

House prices in Brighton are grossly over inflated. This is unsustainable over the long term, as people will move away, there will then be a glut of properties for sale, and prices will assume a more realistic level.
Prices are still not what they were 4 years ago, so I would take this 'talking up the market' from estate agents, of ALL people, with a large boulder of salt.
House prices in Brighton are grossly over inflated. This is unsustainable over the long term, as people will move away, there will then be a glut of properties for sale, and prices will assume a more realistic level. Prices are still not what they were 4 years ago, so I would take this 'talking up the market' from estate agents, of ALL people, with a large boulder of salt. Ballroom Blitz

12:25pm Sat 5 Jan 13

Somethingsarejustwrong says...

Gaz Scott wrote:
Is it really any wonder the city's most vulnerable people are forced to squat when B&h's property prices continue to rise and rise.

These people don't want to squat but have no choice.
Absolute nonsense, as usual
[quote][p][bold]Gaz Scott[/bold] wrote: Is it really any wonder the city's most vulnerable people are forced to squat when B&h's property prices continue to rise and rise. These people don't want to squat but have no choice.[/p][/quote]Absolute nonsense, as usual Somethingsarejustwrong

10:00pm Sat 5 Jan 13

imnotpc says...

jamus77 wrote:
Spanners wrote:
jamus77 wrote:
Why is everything being repeated?
a most profound and philosophical comment
I thought so.
and me lol
[quote][p][bold]jamus77[/bold] wrote: [quote][p][bold]Spanners[/bold] wrote: [quote][p][bold]jamus77[/bold] wrote: Why is everything being repeated?[/p][/quote]a most profound and philosophical comment[/p][/quote]I thought so.[/p][/quote]and me lol imnotpc

10:02pm Sat 5 Jan 13

imnotpc says...

Somethingsarejustwro
ng
wrote:
Gaz Scott wrote:
Is it really any wonder the city's most vulnerable people are forced to squat when B&h's property prices continue to rise and rise.

These people don't want to squat but have no choice.
Absolute nonsense, as usual
what a load of b****cks.words fail me i'm fast losing the will to live with stupid people that make inane comments yawn
[quote][p][bold]Somethingsarejustwro ng[/bold] wrote: [quote][p][bold]Gaz Scott[/bold] wrote: Is it really any wonder the city's most vulnerable people are forced to squat when B&h's property prices continue to rise and rise. These people don't want to squat but have no choice.[/p][/quote]Absolute nonsense, as usual[/p][/quote]what a load of b****cks.words fail me i'm fast losing the will to live with stupid people that make inane comments yawn imnotpc

8:45am Sun 6 Jan 13

Somethingsarejustwrong says...

imnotpc wrote:
Somethingsarejustwro

ng
wrote:
Gaz Scott wrote:
Is it really any wonder the city's most vulnerable people are forced to squat when B&h's property prices continue to rise and rise.

These people don't want to squat but have no choice.
Absolute nonsense, as usual
what a load of b****cks.words fail me i'm fast losing the will to live with stupid people that make inane comments yawn
Couldn't agree more with you.
[quote][p][bold]imnotpc[/bold] wrote: [quote][p][bold]Somethingsarejustwro ng[/bold] wrote: [quote][p][bold]Gaz Scott[/bold] wrote: Is it really any wonder the city's most vulnerable people are forced to squat when B&h's property prices continue to rise and rise. These people don't want to squat but have no choice.[/p][/quote]Absolute nonsense, as usual[/p][/quote]what a load of b****cks.words fail me i'm fast losing the will to live with stupid people that make inane comments yawn[/p][/quote]Couldn't agree more with you. Somethingsarejustwrong

10:55am Mon 7 Jan 13

Fairfax Sakes says...

Fercri Sakes wrote:
Hoarder12345444 wrote:
Spanners wrote:
hove dweller wrote:
hmmm. not sure i'd agree with prices going up - my very nice flat in exclusive hove address has just been valued at 15k less than bought for (in 2008)
Prices have gone up by 2% compared to last year.

2008 was the absolute top of the property market. No-one is claiming a rise on that point in time. The vast majority who bought in 2008 are looking at losses or holding their value at best.
Yep same as my flat in my mid sussex. Lost quite a bit of money. What makes me angry is, I've spent money of the lease extension, and the previous owners made about 70k in 5 years. They did do it up a bit, but I'll never make anywhere near that.
I think that's one of the major issues though as too many people think of property as an investment, rather than a place to live.

The interest rates are kept low for homeowners; there are a huge number of BTL mortgages for people looking to make some money from nothing; most benefits end up in landlord's pockets; and those without a mortgage will need to save up over £100K (on average for Brighton) just to get on the ladder.

We're leaving a generation behind so that a few people can make some money.
And whas wrong with making money? Is it illegal to buy to let? Or maybe you'd prefer to live in a Soviet style planned economy where people are allocated resources with no incentive to better themselves. I’m so tired of people moaning at others fortunes-get off your welfare seeking rear ends and sort your lives out!
[quote][p][bold]Fercri Sakes[/bold] wrote: [quote][p][bold]Hoarder12345444[/bold] wrote: [quote][p][bold]Spanners[/bold] wrote: [quote][p][bold]hove dweller[/bold] wrote: hmmm. not sure i'd agree with prices going up - my very nice flat in exclusive hove address has just been valued at 15k less than bought for (in 2008)[/p][/quote]Prices have gone up by 2% compared to last year. 2008 was the absolute top of the property market. No-one is claiming a rise on that point in time. The vast majority who bought in 2008 are looking at losses or holding their value at best.[/p][/quote]Yep same as my flat in my mid sussex. Lost quite a bit of money. What makes me angry is, I've spent money of the lease extension, and the previous owners made about 70k in 5 years. They did do it up a bit, but I'll never make anywhere near that.[/p][/quote]I think that's one of the major issues though as too many people think of property as an investment, rather than a place to live. The interest rates are kept low for homeowners; there are a huge number of BTL mortgages for people looking to make some money from nothing; most benefits end up in landlord's pockets; and those without a mortgage will need to save up over £100K (on average for Brighton) just to get on the ladder. We're leaving a generation behind so that a few people can make some money.[/p][/quote]And whas wrong with making money? Is it illegal to buy to let? Or maybe you'd prefer to live in a Soviet style planned economy where people are allocated resources with no incentive to better themselves. I’m so tired of people moaning at others fortunes-get off your welfare seeking rear ends and sort your lives out! Fairfax Sakes

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