SINGLE earners could afford less than four per cent of homes on the market in Brighton and Hove last year. According to research by estate agent Savills, just 3.1 per cent of properties on sale in 2020 were affordable for the average single earner. While a household with two incomes fared better, two median earners could only have afforded 41 per cent of the properties available. However, this would only be possible so long as they could pay a 25 per cent deposit, which works out at more than £80,000, or 16 months’ worth of gross pay.
Brighton and Hove City Council is working in partnership with housing association the Hyde Group on Homes for Brighton and Hove - a scheme which aims to provide 1,000 new affordable homes for working households on low incomes in the city.