Land Registry figures show that the average house price in the city stood at £220,642 in January- March 2012 [up from £219,038 in the last quarter of 2011]; this is an increase over the last few months but 5% below the all-time peak in November 2007. A salary of over £40,273 p.a. would be required to buy a one-bedroom, first-time buyer's flat.

Over the last year prices in Brighton & Hove have seen a 2.7% increase in comparison to a 0.6% decrease nationally and prices are 38% higher than the England & Wales average.

The income required to buy a one-bed flat priced at the average cost of £174,518 [up from £171,673 in the last quarter of 2011] would be £40,273 [£39,617 at the end of 2011] assuming a 25% deposit [£43,270 in this example] and a mortgage of 3.25x earnings for the balance.

The cost to rent in the city has increased for some properties but decreased for others. A 1 bedroom flat will cost £752/month [3.3% increase on the previous quarter], two bedroom flats are averaging £1,089/month [4.2% increase from the last quarter]. But larger premises have become cheaper to rent with a 4 bedroom houses averaging £1,686/month [a 14% decrease from the previous quarter].

Click here to download House Price Update 2012 Q1