As London’s soaring property prices force more and more buyers out of the market, Brighton has fast become a favourite destination among young professionals, with property investors reaping the benefits.
Research by email4property.co.uk has revealed Brighton as having one of the fastest growing property markets in the South East, with average prices growing at a consistent rate of over 10% per year, and rising by a whopping 113% since the year 2000.
The popularity of Brighton among young professionals and recreational visitors continues to drive prices upwards, yet property here still remains more affordable for commuters working in London.
The city’s popularity has led to an increasing number of apartments in the centre catching the attention of investors, resulting in an influx of buy-to let properties on the market here. This is reflected in the property mix, with apartments making up almost 50% of all sales in 2006, and 47% of sales so far in 2007.
David Bexon, Managing Director, email4property comments: “With the average property price currently standing at £251,404, Brighton is highly competitive when compared to other areas of the South East and many first-time buyers and young professionals are still able to afford a home here. With excellent transport links and train journeys into London in under an hour, Brighton offers a valid option to both those living and working in the area, as well as commuters to the capital looking for a vibrant city lifestyle.”