Renting in Brighton and Hove is typically a more affordable option than buying a property, according to new statistics.
Zoopla has named the city as one of its top ten areas in which tenants enjoy a more favourable market than those looking to purchase a home.
With a median monthly rent of £1,200, tenants in Brighton and Hove typically pay less than a homeowner with an average mortgage cost of £1,601.
Joanne Darroch, branch manager at Leaders in Western Road, says: “The private rented sector continues to provide some of the most affordable housing across Brighton and Hove, helping people who cannot afford to buy a home to continue to live in the city.
“The arrival of new landlords and more rental homes is good news for the local property market, as not only does this generate more supply and choice for tenants, but it also helps to keep rental prices competitive.
“For those who aren’t in a position to buy right now or simply enjoy the flexibility that renting offers, there are a number of affordable options across the city. I expect this to attract even more tenants to the market in the coming months, strengthening Brighton and Hove’s position as a buy-to-let hotspot that delivers for both landlords and tenants.”
In addition to any financial benefits, tenants in the city are able to enjoy access to one of the UK’s largest and most varied rental markets, making it simple for people to find their ideal home.
From stylish apartments in the city centre to large, suburban family homes, Brighton and Hove offers all types of homes to meet all needs.
Joanne adds: “Brighton is a fantastic place to live and renting is an affordable way to do so. The possibility of substantial capital growth also makes buying an extremely attractive choice, but for the lowest monthly costs it seems the rental market is the first port of call.”
For more information on letting, renting, buying or selling a property, contact your local Leaders branch.