Brighton house prices rise at third-highest rate in Britain, says building society

Brighton and Hove house prices are rising faster than anywhere in the country except Manchester and London, according to Nationwide Building Society.

In its table of the “best performing” regional towns and cities, Nationwide said that Brighton and Hove had the third-highest rate of house price inflation.

It said that the average price of a home in Brighton rose at an annualised rate of 12 per cent to £348,918 in the final quarter of last year.

The society said: “Among England’s major towns and cities, Manchester was the top performer in 2013, with prices up 21 per cent during the year.”

An average property in Manchester rose to £209,627, according to the Nationwide House Price Index.

It said that prices in Brighton and Hove had risen 47 per cent over the past ten years.