The average house price across the UK has risen by 7.3% over the past year and the property market looks set to continue to see the surge in demand for houses now that we have emerged from most restrictions imposed during the lockdowns. As many of us felt the pinch of being at home for much of the time, but with not enough space to cope, the need to move has become ever more pressing. Many areas across England and Wales saw an increase in the rate of long-term growth in property prices and in this article, we look to see which areas have enjoyed some of the highest growth rates.
London
Although, according to data from the Office of National Statistics (ONS), London experienced the most lethargic rise in the rate of annual growth with a return of just 6.3% in the year to June 2021, the boroughs of Kensington and Chelsea bucked the trend and continued to see a rise in the rate of long-term growth for house prices.
In an article by Zoopla, it was reported that over the past 20 years, house prices in the borough have risen nearly £740,000. This mind-boggling amount firmly puts this as the number one area for long term house price growth anywhere in the UK since 2001.
South-East
The borough of Elmbridge in Surrey, which is home to the towns of Weybridge, Cobham and Esher, was third in the rankings of the areas of the UK that have experienced the highest rates of long-term house price growth since 2001. Popular with commuters for its proximity to London and favoured place to live of the rich and famous, the area has seen an increase in property prices of more than £402,000 over the last 20 years. With data from Elmbridge Borough Council’s knowing our community document showing over 75% of the residents of Elmbridge being economically active and residents reporting a feeling that the crime rate in the area is lower than that of the rest of the UK, it’s easy to see the desirability of living in the area –
East of England
With roots in the Iron Age, the historic town of St. Albans flew the flag for the East of England with the strongest increase in growth of house prices over the past two decades. As with Elmbridge, the town saw an increase of over £402,000 in property prices in the past 20 years. Although there has been a fall of 1.98% in the average price of a property in the East of England over the past three months, St. Albans remains as popular as ever with its close links to London and plentiful recreational pursuits –
North-West
Data from the ONS showed that the North-West of England had achieved the strongest house price growth over the past year to June 2021, with an average return of 18.6% -.
Trafford, the Metropolitan borough of Greater Manchester has seen an overall sold price increase over the past year of 14%, according to data from Rightmove . Trafford holds much appeal, with its famous sporting heritage in both football and cricket and on the doorstep of the employment opportunities of Manchester and the tranquil Cheshire countryside just to the south, Trafford is a fantastic place to live. Boasting 7 Grammar schools in the area, all of which are in the Top 10 of the best performing state schools in Greater Manchester, the draw for families to the area is clear.
Wales
The biggest increase in the price of houses has been seen in Wales over the last year, with an increase of 10.9% year on year – A combination of the availability and affordability of housing, added to the draw of the beautiful countryside and proximity to coastal regions could be making Wales amongst the most desirable places to live in the UK.
Is It Time to Move?
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