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Russell Brand has splashed out on a new home in the Hollywood Hills for himself and his pop star girlfriend Katy Perry, according to reports.

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The "Forgetting Sarah Marshall" star has purchased a $3.5 million mansion in The Summit estate in Los Angeles, in the same neighborhood singer Britney Spears once lived in, reports Britain's Daily Star.

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The property, which boasts seven bedrooms, will be the first shared home for the couple, who began dating in September.

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The funnyman sparked rumors he was leaving his native Britain to move to America for Perry when he put his London bachelor pad on the market in November and he fueled speculation he would settle down with the "I Kissed A Girl" hitmaker after he was photographed shopping for a diamond ring at a Cartier jewelry store earlier this month.

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