Editor's Pick
Which places have seen the strongest house price rises since 2000?
Some cities have seen average property prices more than double in the last 20 years
Manchester is the number one property hotspot in the UK over the last 20 years, according to Ocean Finance.
The city has seen an average price increase of 143% since 2000 – from £73,910 to £179,537.
The lender investigated how the average house price has changed over two decades (2000-2020) across 50 of the UK’s largest towns and cities.
The rest of the top 10 and their 20-year price increases are as follows:
- Manchester – 143%
- Leicester – 132%
- Southend-on-sea – 117%
- City of London – 116%
- Bristol – 112%
- Kingston upon Hull – 102%
- Cambridge – 101%
- Brighton – 98%
- Derby – 96%
- Coventry – 95%
Source: Ocean Finance, using figures from Land Registry
On average a UK property bought in 2000 has increased in value by £96,979 – which is the equivalent of over three years’ salary, and a 78% increase since 2000. The average homeowner now stays in their property for 23 years.
Regional split
Regionally, Greater London saw the greatest increase in house prices between 2000 and 2020.
Prices have jumped in the capital by 95%, followed by Yorkshire and the East Midlands, where values are up by an average of 87%.
Northern Ireland had the weakest growth – 21% over 20 years.
The lender also found that terraced houses have seen the strongest return, with their value increasing by 96% over 20 years, compared to 69% for flats.
