Wednesday, 22 December 2010

House prices UK - Brighton, London by the sea with property prices to match

London properties and their price tags are shocking. But does Brighton offer the charm of London at lower prices? Brighton is of course London by the sea. It is so nice that the electorate actually elected a Green party member of Parliament. Its charm is fully reflected in its outrageous property prices. The average house will set you back close to £300,000.

Like everywhere else in the UK, Brighton property prices took a hit after the financial crisis. They have, however, recovered rather quickly and appear to have made up virtually all the losses inflicted in 2008.


Anonymous said...

Brighton? You are really saying something about the atrocious weather in London, aren't you Alice.

Must admit, you have a point about Brighton. It's a beautiful town, especially in the summer.

mark said...

In addition to preferring actual prices rather than fractions I think people also prefer actual (i.e. nominal prices) over inflation adjusted prices.

From the chart it appears that Brighton house prices are back to where they were in nominal terms in late 2007 - i.e. almost exactly 3 years ago.

I suspect that the true rate of inflation in the UK over that period (how much more does that peak hour train to London cost?) means that house prices have actually decreased in real terms quite considerably.

The human brain seems designed to think in nominal terms only and if house prices stay flat for say the next 5 years most people won't think they've lost - they'll just think they haven't gained.

dearieme said...

Nice one, A. I also like Mark's implicit suggestion that you could ratio the house price to the cost of escaping from London. Or, its being Brighton, the cost of candyfloss.