Where have UK house prices increased most – and least – since 2010?
Homeowners in the Easton area of Bristol have experienced the UK’s biggest increase in house prices in the last decade – up 120% – while those in Nairn, Scotland, had the largest decrease.
The property website Rightmove compared the prices of more than 2m homes to name the winners and losers of the last decade. Bristol was home to Britain’s top spot as well as six of the top 10 areas outside London.
The current average asking price in Easton, which in 2019 was named by Time Out as Bristol’s “coolest” neighbourhood, is now £283,397, an increase of almost £155,000 since 2010. Despite this, it is still one of the relatively affordable areas of the city.
Estate agents said prices across Bristol have boomed during the decade, with buyers attracted to the city’s good quality of life and the fact that it is viewed as an “interesting” place to live.
The next biggest increase outside London was in Swanscombe, near Dartford in Kent, where average prices increased 106% over the decade to an average of £326,106. On the other side of the Thames estuary, in Tilbury, Essex, house prices almost doubled over the same period.
In the capital, Rightmove said, Walthamstow homeowners were clear winners, with prices soaring 117% since September 2010. The north-east London borough was closely followed by locations in north, east and south London, with prices in Peckham, Tottenham, Forest Gate and Elephant & Castle all increasing between 103% and 107%.
Tim Bannister of Rightmove said: “Demand for property in Bristol is exceptionally strong right now. Average asking prices across Bristol as a whole are up by 60% over the past decade and it’s one of the UK’s most thriving regional centres.
“Bristol has a highly diverse mix of housing stock and is a city where a number of tech companies have based themselves, making it a very attractive place to move to for many buyers.”
He said average asking prices had risen nationally by £93,046 in the 10 years, from £226,950 in September 2010 to £319,996 now, an increase of 41%.
The data, however, shows that prices have not gone up in every area. Homebuyers in Nairn, on the coast near Inverness, have watched values fall 15% during the last decade to less than £200,000, although living near the town’s sandy beaches, with the chance to see dolphins, may have softened the blow.
The residents of Linthorpe, Middlesbrough, have suffered the second worst decline by percentage – a 12% fall in 10 years. An average house there now costs £128,352, the data shows.
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