Due to healthy economic growth…
New research from the Halifax shows house prices in areas with the strongest economies have increased by a third more than the average, and have remained the most resilient since the downturn.
While the cost of an average home has increased by 145% over the last decade, Brighton and Hove tops their charts with a 206% rise.
The trendy seaside city also saw the fourth biggest increase in economic activity at 63%.
Cornwall and the Isles of Scilly came in second, with a 198% increase and 60% hike in terms of economic activity.
How much of the Brighton rise is also driven by people fleeing the London housing market they don’t say, but it undoubtedly remains popular with commuters not reliant on local employment, as well as the city’s more famous residents, including Adele, Fat Boy Slim, and David Walliams.
But, while it may be good news for current home owners in these lovely locations, it’s more of the same for local people stuck in the expensive private rental sector, or struggling to buy their first home at London prices with regional wages.