Hove has enjoyed a reputation as a more chic, peaceful and covetable alternative to Brighton in recent years. The big Regency houses that dot the terraces and crescents of Hove - complete with white stucco façades and wrought-iron balconies - have been sub-divided into fewer (and hence, larger) flats in Hove than they have been in Brighton. In particular, the Brunswick Estate conservation area is known for its well-preserved buildings and convenient location (it is equidistant from Hove and Brighton stations). But the gap is starting to close.

Estate agents say that, with the exception of top-end properties (those priced above £500,000), the market is stagnant across the city. “Hove is still considered the place to be,” says Susan Sinclair, a property finder. “But as far as house prices go, demand has slumped throughout Brighton and Hove.”

Property prices have dropped on average by about 7 per cent, according to figures from Halifax, although terraced houses have dropped by only 0.5 per cent to an average of £305,000. New developments have also been put on hold or, if completed, are being let.

On the upside, the buy-to-let market has shot up, with rents rising by about 10 per cent in some places, while would-be first-time buyers rent instead, Sinclair says. “So if your mortgage has gone up, you should at least be getting more rent than a year ago.”

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