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.

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)

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One Comment

  1. mrtickle

    Good to see my home-town of Bournemouth near the top of the table (unlike in the Prem). Shame I’ll never be able to afford to move back though…

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