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Here's our low-down on why the Brighton property market is a great place to invest
LONDON-BY-SEA, SILICON BEACH, BRIGHTON
Home for around 290,000 people, and many large corporate companies, such as American Express, Bupa, Legal and General, and Lloyds Bank. There are over 13,000 SME businesses, providing over 60,000 jobs.
Brighton and Hove's tourism industry employs 20,000 people directly or indirectly. It is the most popular seaside destination in the UK for overseas tourists. It attracted 10 million day visitors in 2016 (up 6% vs 2015) and 1.6 million overnight visitors (10% up on 2015).
Along with the 38,000 university students, Brighton is uniquely placed to benefit from a diverse, strong demand for good quality property to live in.
EXCELLENT CAPITAL GROWTH
House prices in Brighton, between 1995 and 2019, have rocketed by an astonishing +620%. Other nearby sea-side locations, like Southampton and Portsmouth, have only risen by around +350%. London can only boast a +563% growth.
Even the trending property investment hot spots of Liverpool and Manchester are under +350% capital growth.
STRONG, GROWING ECONOMY
In the last three years, Brighton has been named the UK’s most entrepreneurial city and the UK city most suited to starting a business, making it the UK’s hub for entrepreneurial activity.
The city now boasts the UK’s highest proportion of creative small- and medium-sized businesses relative to the size of the sector. Currently enjoying fast growth, thanks to a range of factors including local talent and training, affordability, and investment in digital and tech.
In 2018, Lloyds Bank named Brighton the country’s startup capital, representing the highest proportion of creative SMBs relative to the size of the sector. There were 2,446 new business bank accounts opened alone in 2016. In 2012, it was reported that about 1,500 of Gatwick Airport's 21,000 workers lived in the city of Brighton and Hove. Imagine what will happen if Gatwick airport gets a 2nd runway.
POPULAR STUDENT CITY
Brighton benefits from 2 Higher Educational Institutes; the University of Brighton, and the University of Sussex (Europe's largest music college).
There are 38,000 students; around 20% are post graduates and almost 35% from overseas. The Moulscoome campus alone has 8,000 students, and Falmer 7,000 (only 600 live in the halls).
The ‘Big Build’ project, due to complete in 2021, will result in 5 new halls of residence, with only 800 rooms for students.
Properties in 2018 were taking 15% longer to sell, 131 days on average. This is the same for all property sizes in the city.
However, there are more properties currently on the market, with a 23% increase for November 2018 in comparison with this time last year.
It is certainly a buyers’ market now. In research conducted by Zoopla in October it was found that 38% of properties currently on the market have been lowered in price, with Brighton the highest at nearly 47%. It said sellers in Brighton and Hove are having to knock an average of £28,000 off the asking price to achieve a sale.
Between 2017 and 2018, the cost of renting in the city has increased by 8.2 per cent
Brighton Property Angels
15-17 Middle Street