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Going up – town named as place with greatest house price inflation
Winners and losers in last year’s house buying stakes included Cheltenham – a home to British horse racing.
House prices galloped ahead by 13% in the town, making it the top place in Britain for growth.
It was followed by the seaside towns of Bournemouth and Brighton, both with house price inflation of over 11%.
Huddersfield also scored highly, with 9.3% growth in house prices. Although other towns in West Yorkshire faired less favourably.
However, there were 13 towns where house prices fell.
In Perth, Scotland, they were down by 5.3%, followed by Stoke-on-Trent with a fall of 4%.
The tables show some surprises: London boroughs barely feature in either the winners or losers tables; previous high-fliers Cambridge and Oxford have gone quiet; and Leeds, Reading and Norwich are either down or showing almost static growth.
Of course it does depend who you listen to and there is a big difference between asking prices on the portals, and prices where mortgage lenders have agreed loans.
According to Zoopla, the town with the homes that have piled on most value include Ashbourne, Derbyshire, up 11.59%, and Clevedon in Somerset, with an uplift of 11.6%.
Also according to Zoopla, homes across London have barely appreciated in value over the last year, going up by an average of just 0.73%, while in the north-east of England, values are down 0.35%.
Table 1: 20 towns with biggest increase in average house prices, 2016-2017 according to Halifax
|
Town/Area |
Region |
Average House Price £ (2016)* |
Average House Price £ (2017)* |
Change £ |
Change % |
|
Cheltenham |
South West |
277,118 |
313,150 |
36,033 |
13.0% |
|
Bournemouth |
South West |
245,099 |
273,687 |
28,587 |
11.7% |
|
Brighton |
South East |
336,374 |
374,662 |
38,289 |
11.4% |
|
Crawley |
South East |
293,105 |
323,660 |
30,555 |
10.4% |
|
Newham |
Greater London |
365,438 |
402,781 |
37,344 |
10.2% |
|
Peterborough |
East Anglia |
200,309 |
220,623 |
20,314 |
10.1% |
|
Gloucester |
South West |
211,429 |
231,581 |
20,152 |
9.5% |
|
Huddersfield |
Yorkshire and the Humber |
171,007 |
186,988 |
15,981 |
9.3% |
|
Exeter |
South West |
251,085 |
273,874 |
22,789 |
9.1% |
|
Nottingham |
East Midlands |
177,513 |
193,397 |
15,884 |
8.9% |
|
Gravesend |
South East |
287,544 |
312,940 |
25,396 |
8.8% |
|
Lincoln |
East Midlands |
179,669 |
194,723 |
15,053 |
8.4% |
|
Stockport |
North West |
217,410 |
235,147 |
17,736 |
8.2% |
|
Swindon |
South West |
214,633 |
231,316 |
16,683 |
7.8% |
|
Redbridge |
Greater London |
441,167 |
475,148 |
33,981 |
7.7% |
|
Swansea |
Wales |
153,121 |
164,895 |
11,774 |
7.7% |
|
Barnet |
Greater London |
542,353 |
584,049 |
41,697 |
7.7% |
|
Richmond Upon Thames |
Greater London |
600,648 |
646,112 |
45,463 |
7.6% |
|
Portsmouth |
South East |
207,196 |
222,704 |
15,508 |
7.5% |
|
Grays |
South East |
270,277 |
290,422 |
20,145 |
7.5% |
|
United Kingdom |
247,933 |
254,609 |
6,677 |
2.7% |
Source: Halifax (*12months to November)
Table 2: 20 towns with biggest fall/smallest rise in average house prices, 2016-2017
|
Town/Area |
Region |
Average House Price £ (2016)* |
Average House Price £ (2017)* |
Change £ |
Change % |
|
Perth |
Scotland |
190,813 |
180,687 |
-10,126 |
-5.3% |
|
Stoke on Trent |
West Midlands |
158,742 |
152,340 |
-6,402 |
-4.0% |
|
Paisley |
Scotland |
128,258 |
123,665 |
-4,593 |
-3.6% |
|
Wakefield |
Yorkshire and the Humber |
173,997 |
168,920 |
-5,076 |
-2.9% |
|
Rotherham |
Yorkshire and the Humber |
143,510 |
140,364 |
-3,146 |
-2.2% |
|
Dunfermline |
Scotland |
161,976 |
158,442 |
-3,535 |
-2.2% |
|
Barnsley |
Yorkshire and the Humber |
137,352 |
135,114 |
-2,238 |
-1.6% |
|
Aberdeen |
Scotland |
203,425 |
201,270 |
-2,155 |
-1.1% |
|
Bromley |
South East |
491,383 |
488,191 |
-3,192 |
-0.6% |
|
Bradford |
Yorkshire and the Humber |
132,018 |
131,505 |
-514 |
-0.4% |
|
Leeds |
Yorkshire and the Humber |
192,480 |
191,751 |
-728 |
-0.4% |
|
Hounslow |
Greater London |
439,405 |
438,497 |
-909 |
-0.2% |
|
Sunderland |
North |
144,341 |
144,085 |
-257 |
-0.2% |
|
Stevenage |
South East |
297,221 |
297,737 |
516 |
0.2% |
|
Bolton |
North West |
155,467 |
155,796 |
330 |
0.2% |
|
Tower Hamlets |
Greater London |
492,182 |
493,855 |
1,673 |
0.3% |
|
Harrow |
Greater London |
546,917 |
550,410 |
3,493 |
0.6% |
|
Reading |
South East |
379,695 |
382,331 |
2,636 |
0.7% |
|
Bridgend |
Wales |
157,924 |
159,091 |
1,167 |
0.7% |
|
Norwich |
East Anglia |
237,380 |
239,135 |
1,756 |
0.7% |
|
United Kingdom |
247,933 |
254,609 |
6,677 |
2.7% |
Source: Halifax (*12months to November)
Article ROSALIND RENSHAW, Property Industry Eye
