House prices up 105% in last 10 years: Halifax

Halifax's latest historical analysis of its house price data has revealed that house prices increased by 105% during the past decade.

Average house prices stood at £81,596 in Q4 1999 and rose to £167,020 by the end of Q4 2009. The national average increased by 145% between 2000 and the peak in Q3 2007, before declining.

House prices finished 2009 at a similar level to that in Q3 2005. The towns recording the biggest house price gains were Redruth (207%) and Penzance (188%) in Cornwall, and Ramsgate in Kent (181%).

The top performing regions were Yorkshire and Humber (130%), Wales (122%) and the North (120%).

Martin Ellis, housing economist at Halifax, said: "The noughties was a significant decade for house prices. Overall, prices increased considerably despite the marked decline towards the end of the decade. This contrasted sharply with the 1990s when prices rose only modestly in monetary terms and actually fell once retail price inflation is taken into account.

"The majority of towns that experienced the strongest price growth began the decade with lower than average property prices, which provided the platform for bigger price gains. Seaside towns fared particularly well as the attraction of having a home on the coast helped to boost demand."