Yahoo Finance Top 10 UK locations where house prices have risen the most
The average UK house price has fallen by 3.9% over the last year, with higher interest rates impacting mortgage affordability. However, there are still locations across the country where property values have risen.
More than 70 local areas have bucked the national trend with rising property prices, according to new research released by Halifax.
The analysis, based on data from the lender’s house price index, looked at typical property prices in more than 300 local authority areas across Britain in the three months to September, and compared them to the equivalent figures from 2022.
Taking the top spot is Powys in Wales which has seen the strongest house price growth over the last 12 months at 17.4%.
It is the largest but least densely populated county in Wales, known for its villages and market towns, and featuring a stunning landscape of valleys and mountains, including most of Brecon Beacons National Park. Newtown, also known as Y Drenewydd in Welsh, is the largest town in Powys.
Read more: UK property asking prices drop by more than £6,000 in November
In England, East Lindsey in the East Midlands topped the list at 13.3% growth, and in Scotland, Moray saw the highest property price inflation at 10.7%.
East Lindsey flanks the east coast of Lincolnshire, home to the Lincolnshire Wolds. It also features the award-winning Blue Flag beaches of Skegness, Mablethorpe and Sutton-on-Sea.
Meanwhile, Moray is another largely rural area. It features an array of top golf courses and many of Scotland’s whisky distilleries. Also taking in part of the Cairngorms National Park, it’s equally famous for its colony of bottle-nose dolphins living in the Moray Firth.
Rounding out the top five is Babergh in Eastern England and Sunderland in the North East, with prices up 10.3% and 8.9%, respectively.
The rest of the top 10 included Ealing in West London (7.5%), Westminster in the City of London at 7.4%, Bolsover in the East Midlands (7.2%), Cumberland in the North West (6.7%) and Rossendale also in the North West at 6.7% growth.
Read more: UK rents to rise by £1,260 in London and £600 across the country, surveyors warn
“There are multiple factors which can impact house prices in your local area, ranging from the mix of properties available and the extent of any new housing, to the quality of schools and abundance of job opportunities,” Kim Kinnaird, director at Halifax Mortgages, said.
“What’s clear is that the UK housing market is not a single-entity that performs in a uniform way across the country, there are differences.”
“While at a national level the current squeeze on mortgage affordability has seen property prices fall over the last year, in many regions there remain pockets of house price growth. While a limited supply of properties for sale could be a factor, this also suggests in some areas, local market activity — and demand among buyers — remains strong.
She added: “Many of the places highlighted in our research also benefit from more remote or rural surroundings and incorporate areas of outstanding natural beauty. These are traits which continue to be desirable for prospective homeowners, bucking the trend of the wider performance of the housing market.”
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