A list of the UK towns and cities where house prices grown the most since the turn of century has been unveiled.
According to figures released by HouseSimple.com there are 19 places outside of London where average property prices have soared by more than 250% in the last 18 years.
Top of the list is the Essex coastal town of Southend-on-Sea where prices have boomed by 287.1% since 2000, according to Land Registry figures.
It’s not the only place in the East of England to see the biggest increases with Cambridge prices rising by 279.2%, Luton’s properties growing by 276.7% and Basildon’s escalating by 274.7%.
Only two of the towns in the list were in the north of England, Salford and Sale, which are both in the Greater Manchester region and saw prices climb by 269.5% and 266.4% respectively.
Other towns and cities in the ‘Top 19’ included Bristol, which came just behind Southend-on-Sea with price rises of 279.9%, Luton and Corby. Seaside towns of Hastings and Brighton also made the list.
Although London was not included in the Top 19, HouseSimple.com said the capital was the ‘clear winner’ when it came to making gains on property and was assessed separately. Indeed, the eight biggest house price growth areas since January 2000 were all in London boroughs where the costs had soared by more than 300% since the Millennium began.
Waltham Forest, Hackney and Lewisham have experienced the biggest price rises in their property market during the last 18 years seeing increases of 364.9%, 339% and 331.9% respectively.
Sam Mitchell, CEO of HouseSimple.com said: “While London is the clear winner when it comes to house price growth since the turn of the century, prices have boomed in many areas outside the capital as these figures attest.
“What’s more impressive is that in the middle of this 18-year period, we experienced one of the worst recessions this country has ever seen. It shows the resilience of the UK property market.”
But Mitchell said things could look very different going forward. “Today, the property price growth picture is entirely different. As London’s property market shows signs of running out of steam, we are seeing strong growth in the north of England.
“Eighteen years from now, the UK’s property hotspot landscape could well look entirely different.”
Loading ...