When you talk about Brighton, you can picture the seaside. It offers the best that you can find in any city in the UK. That is why the price of properties in the area can be quite high. Nonetheless, it is still a great investment for those who want to rent them, afterwards. Here is what you need to know about Brighton properties.
It feels Good being in the South
Like on any island, many British citizens want to move to the southern part. That is why South East removals are so busy all year round. But Brighton has a special place in the country’s heart. Especially to Londoners, who consider it sufficiently close to go and spend holidays there, yet far enough to forget about all the problems of the city. Knowing this, it is not surprising that properties are in high demand, in this town. It has its ups and downs, of course. It enables property owners to find tenants easily, but buying a house there will cost you aplenty. The average property cost in the UK is at £270,000 and one in Brighton will reach over £400,000. That is a steep difference. But that is the price you have to pay to invest in the most famous southern city in England.
A Large Population and Tourists All-year Round
In 2001, Brighton was upgraded to the status of city, while attaching itself to the town of Hove located nearby. In fact, it is now known as the City of Brighton and Hove. That is why we can now count close to 290,000 citizens that resides there permanently. There is a current growth of population of about 2,5%, which will see the city surpass 300,000 quite soon, which is enough to keep removal companies in Brighton, very busy.
However, it is the tourists that make all the difference for home owners. That is because they are close to half a million a year, that stop by for a few days off (490,000). This is a dream for property owners, who can rent their house or flat, at a daily rate. They can also think of opening a B&B, which is sure to be filled, all year long.
A Thriving Business Sector
Business owners also want to live well. That is why they choose Brighton as their home. This is the only possible explanation to the fact that the economy of the city is worth £7 billion. It is a center for financial services, where American Express is the biggest employer. But it goes much farther. The new tech companies and various start-ups are all adding to the growing economical strength of the city, by basing themselves in that location. In fact, some call Brighton the British Silicone Beach.
A Student Centre
Where there are students, there is money to be made in property rental. That is the case with Brighton. There are two universities that bring in their lot, year after year. The University of Brighton counts 21,000 students, while the University of Sussex has around 20,000. It can be difficult for them to find a space to live, so no flat will be left without tenants in Brighton, for sure.