UK markets closed
  • FTSE 100

    6,483.43
    -168.53 (-2.53%)
     
  • FTSE 250

    20,910.37
    -287.75 (-1.36%)
     
  • AIM

    1,183.25
    -8.61 (-0.72%)
     
  • GBP/EUR

    1.1532
    +0.0034 (+0.30%)
     
  • GBP/USD

    1.3922
    -0.0091 (-0.65%)
     
  • BTC-GBP

    33,336.75
    +351.18 (+1.06%)
     
  • CMC Crypto 200

    912.88
    -20.25 (-2.17%)
     
  • S&P 500

    3,811.15
    -18.19 (-0.48%)
     
  • DOW

    30,932.37
    -469.64 (-1.50%)
     
  • CRUDE OIL

    61.66
    -1.87 (-2.94%)
     
  • GOLD FUTURES

    1,733.00
    -42.40 (-2.39%)
     
  • NIKKEI 225

    28,966.01
    -1,202.26 (-3.99%)
     
  • HANG SENG

    28,980.21
    -1,093.96 (-3.64%)
     
  • DAX

    13,786.29
    -93.04 (-0.67%)
     
  • CAC 40

    5,703.22
    -80.67 (-1.39%)
     

The UK cities where property values have risen the most

Kalila Sangster
·2-min read
"Street of row houses / terraced houses with alleyway between blocks. This is Moss Side, Manchester, UK."
Terraced houses have gained the most in value over the past 20 years. Photo: Getty

Manchester has seen the greatest property price boost over the past 20 years, rising by 143%, a new study has found.

The average property price in Manchester in 2020 stands at £179,537 ($238,900), up from £73,910 two decades ago, according to the research by Ocean Finance.

Leicester comes in at number two, with prices increasing by 132% since 2000. The average house is now valued at £190,440, up from £82,118.

READ MORE: The plants costing UK homeowners over £10,000 to remove

Third on the list is Southend-on-Sea where the average price of a home has risen to £287,173 from £132,239 — an increase of 117%.

London just misses out on the top three, with prices rising 116% since the year 2000. The UK capital is currently the most expensive property hotspot on the list with average house prices standing at £786,760, compared to £364,366 twenty years ago.

Bristol is at number five with prices up by 112% over the past two decades to £291,839 from £137,742.

The UK cities where property values have risen the most
The UK cities where property values have risen the most. Chart: Ocean Finance

Greater London tops the regional rankings, with prices going up by 95%, closely followed by East Midlands and Yorkshire with property values rising by 87% in both areas.

According to research by Zoopla, the average homeowner stays in a property for 23 years, during this time the average property gains £96,979 in value, over three times the average annual UK salary.

Based on data from 50 of the UK’s largest cities, the average increase in property value over the past two decades has been 78%, according to Ocean Finance.

READ MORE: First-time buyers in the UK moving back in with their parents to save for house deposit

Terraced houses have gained the most in value — an average of 96% over 20 years.

The average value of semi-detached houses in the UK has grown by 84% in the past two decades, followed by detached homes which have risen by 70%. The average price of a flat or maisonette in the UK has gone up by 69% since 2000.

WATCH: UK property: What is shared ownership?