A new study has revealed the average price of a home in Brighton and what you would need to earn to buy one.
The city is one of the most expensive places to buy property in the UK and comes second only to London.
The average price of a flat in Brighton is £336,827.
New research by Go Compare used these figures to work out what someone would need to earn to afford one such flat.
Using the average price of a flat from Land Registry data and calculating monthly mortgage repayments at a third of take-home income, you would need to earn £73,886 to afford the average-priced flat in Brighton.
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This figure is calculated taking tax into account but is before student loans and other financial commitments.
It is based on a 90 per cent mortgage with an example 6.5 per cent interest rate over 25 years.
To buy a terraced house in the city, which averages at £489,386, you would need to earn six figures.
According to the study, you would need a salary of £107,061 to cover this cost.
The average price of a semi-detached home is £555,802 and would require a £121,591 salary.
Go Compare’s data says you would need a salary of £189,091 to afford a detached home in Brighton, which costs - on average - £864,349.
What is a 90 per cent mortgage?
A 90 per cent mortgage enables you to borrow up to 90 per cent of the purchase price of the property you want to buy, with the remaining ten per cent made up of your deposit.
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