Property prices measured per square metre have risen faster in Brighton and Hove than in London.

The city has seen the second biggest jump in house prices by floor space in the country over the last decade, Britains biggest mortgage lender said today.

Prices have risen by 260 per cent over the last decade, according to the Halifax.

The city was second only to Truro in Cornwall, which has seen the average price of a home soar by 262 per cent from just £518 per square metre in 1996 to £1,876 now.

Brighton and Hove, which saw prices rise from £642 to £2,313, was followed by Salford at 255 per cent, London at 252 per cent and Bath at 236 per cent. Property prices per square metre are above the £2,000 mark in 12 cities.

Paul Bonett of Brighton and Hove Estate Agents Association, said: One reason for the big increase is our proximity to London.

A few years ago people in London realised they could sell-up, get much more for their money in Brighton and Hove, still work in London and benefit from our schools, open spaces and seafront.

The increases peaked three or four years ago. There was a downturn last year but things are steady now with about two per cent increases, which is best for both sellers and buyers in the long run.

The cost of property measured in this way has at least tripled since 1996 in 15 of the cities surveyed, and it has at least doubled in all of the 62 cities looked at.

The majority of cities recording big increases are in southern England, with Salford and Newcastle the only places outside of the region to make it into the top 10.

At the other end of the scale, Scottish cities have seen the smallest increases, with Aberdeen reporting the slowest growth in property prices per square metre at 104 per cent during the past decade, followed by Stirling at 122 per cent and Glasgow at 126 per cent.

Unsurprisingly, prices per square metre are highest in London at an average of £3,582, followed by Oxford at £2,741 and St Albans at £2,716. Martin Ellis, chief economist at Halifax Estate Agents, said looking at prices per square metre was a useful measure for house price comparison, as it helped to adjust for differences in the size and type of properties between locations.

Monday, May 22, 2006