Revealed: House price hotspots over the last 10 years
The London borough of Waltham Forest is the UK’s house price hotspot when measured over the last 10 years, said A-Plan Insurance.
The business said the average price in the area has jumped by a whopping 126% in comparison to 10 years ago. The borough’s average in March 2011 was £216,578, while in March this year it stood at £490,895.
Hackney in London is the area with the second biggest increase in average house price between March 2011 and 2021, with the average cost of a home now standing at £604,465, an increase of 105% compared to a decade previously when it was £294,425.
In third place is Barking and Dagenham, where prices have risen by 96%, with the average going from £161,659 in March 2011 up to £317,184 10 years on.
In total nine of the top 10 areas with the highest average house price increase are London boroughs.
The only area outside the capital is Bristol, which ranks seventh in the UK thanks to an increase of 86.7%. The average house price in the city for March 2021 was £317,209, compared to £169,872 in March 2011.
Only one UK area has seen a drop in the average house price in the last decade – the city of Aberdeen – where prices have fallen by 12.5%. The Scottish city’s average house price stood at £160,544 in March 2011, but 10 years later it has fallen to £140,357.
Aberdeenshire has seen the second lowest increase in the UK, with its average house price going up by
just 5.5% in a decade – from £174,139 in March 2011 to £183,856 in March 2021.
Also in Scotland, Inverclyde’s average house prices have risen by the third lowest amount in the UK, and stood at £108,478 in March 2021, compared to £102,464 a decade prior – an increase of 5.8%.
Overall six of the UK’s 10 lowest average house price increases are areas of Scotland.
Across the UK, average house prices are up by an average 54.7%.
A spokesperson for A-Plan Insurance said: “10 years is a long time in the property market, and in the time more than half of the areas measured in the UK have seen the average house price rise by more than 50%. Some places have seen the average price nearly double in value, reflecting just how important home ownership is to people in the UK.”