New research reveals which cities outside London have biggest increase in property prices
Estate Agents Douglas & Gordon have compared average costs to reveal where property prices in the England have grown the most in 10 years.
According to their research, house prices have soared almost 60% in the last decade, from £172,000 just over 10 years ago to an average of £275,000 today. Every part of the country has seen prices rise by at least 15% in the same period.
In some areas, property appreciation has occurred almost nine times quicker than in the slowest growing areas, indicating a significant difference in the behaviour of property markets across regions of the UK.
By analysing ONS house price data from Q1 2010 to Q4 2021 the team were able to find out which regions and areas of the UK have seen the most dramatic property price growth in the last eleven years. The results show that the five regions with the largest rises are as in the below table.
Which UK region has seen the most significant rise in property prices?
| Regions | Average House Price in Q1 2010 | Average House Price in Q4 2021 | % House Price Increase |
| London | £265,000 | £512,000 | 93% |
| East of England | £179,000 | £324,000 | 81% |
| South East | £210,000 | £360,000 | 71% |
| East Midlands | £136,000 | £220,000 | 62% |
| South West | £178,000 | £287,000 | 61% |
Unsurprisingly London has seen the most pronounced increase in house valuations, with the average house in the capital costing 42% more than the average in the next most expensive region, the South East.
House price increases outside London
| City | Average House Price in Q1 2010 | Average House Price in Q4 2021 | % House Price Increase |
| Bristol | £165,000 | £317,000 | 92% |
| St Albans | £312,000 | £593,000 | 90% |
| Canterbury | £182,000 | £340,000 | 87% |
| Brighton & Hove | £220,000 | £405,000 | 84% |
| Cambridge | £247,000 | £450,000 | 83% |
| Leicester | £120,000 | £215,000 | 79% |
| Chelmsford | £210,000 | £375,000 | 79% |
| Bath | £210,000 | £370,000 | 76% |
| Salford | £115,000 | £202,000 | 75% |
| Oxford | £245,000 | £427,000 | 74% |
Smaller areas on the outskirts of London have also seen significant surges in property valuations. Hertsmere and Epping Forest have both doubled in price as areas, with Thurrock, Slough, and Dartford not far behind.
Kindly shared by Douglas & Gordon
