UK house prices up 91 per cent in the past decade

Based on Halifax's own data, the national average price rose by over £78,000 (91 per cent) from £86,095 in late 2000 to £164,310 at the end of 2010.
The current housing market cycle saw the average house price in the UK increase by 132 per cent between 2000 and the recent market peak of £199,766 in 2007. This was followed by a 21 per cent drop to £157,767 in 2009. As the market has stabilised prices have subsequently increased by four per cent to £164,310 at the end of 2010, a level similar to the end of 2005.
House price growth in the North has outperformed the South over the past decade, rising by an average of 102 per cent compared with 75 per cent in the South. As a result, the average house price in the regions across the South (£206,091) is now 56 per cent higher than in the North (£132,163). Ten years ago prices in the South were, on average 80 per cent higher than in the North. However, there are signs that this regional pattern is reversing with the north south divide beginning to widen again. Between 2005 and 2010, the South East experienced the biggest price increases on the UK mainland (4 per cent) while the North recorded the largest fall (-10 per cent).
Suren Thiru, Halifax housing economist, commented: "The turn of this century marked the start of a period of strong house price growth across the UK. The traditional home of price gains, the South, was left behind by strong growth in the North where house prices more than doubled over the period. However, recently, there has been a slight reversal of this trend with housing market in the south of England outperforming the rest of the country over the past few years."