Average home costs record Â£318,821 as property market surges

By every measure, residential property prices in Brighton and Hove have never been higher.

The price of an average city home set a new record of Â£318,821 in the second quarter of the year - 6.8% higher than the same period last year, beating the previous quarterly record of Â£307,539 in the first quarter of this year. In five years, the price of an average home has risen by 40.2%, from Â£227,440.

For every type of home, average prices have never been higher, according to the latest Land Registry data for the 1,270 transactions, with an aggregate value of Â£404.9 million, in April to June:

Detached (108 transactions): an average of Â£574,083 - 21.7% higher than the second quarter of last year; the previous quarterly record was Â£557,430 in January to March; the five-year increase is 61.9%;

Semi-detached (197 transactions): an average of Â£382,896 - 10.7% higher than the second quarter of last year; the previous quarterly record was Â£373,532 in January to March; the five-year increase is 43.9%;

Terrace (285 transactions): an average of Â£369,284 - 5.6% higher than the second quarter of last year; the previous quarterly record was Â£349,552 in the same quarter last year; the five-year increase is 48.3%;

Flats and apartments (680 transactions): an average of Â£238,567 - 11.2% higher than the second quarter of last year. the previous quarterly record was Â£225,919 in January to March; the five-year increase is 36.5%.

There is also evidence prices could perhaps go even higher.

In the single month of June - with 444 transactions, with an aggregate value of Â£143.7 million - the average city home cost Â£323,566, a new monthly record.

The figures for each type of home were: detached - 38 transactions, with an average of Â£683,629; semi- detached - 62 transactions, with an average of Â£365,061; terrace - 100 transactions, with an average of Â£365,451; flats and apartments - 244 transactions, with an average of Â£239,781.