Prices rose by an average of 54.7% in the past decade, but some surprising locations saw much higher increases — while one even saw a drop. Carla Passino takes a look.
House prices have climbed to dizzying heights in the past decade, but some parts of the country saw increases of Shard-like proportions — and they are none of the usual suspects that regularly top the property charts.
A new study by insurance company A-Plan Insurance, based on data from the Office of National Statistics, shows that the local authority that saw the highest rise was London’s Waltham Forest, with a whopping 126%.
Those who had the foresight of buying in the north-eastern borough in 2011 (spending an average of £216,578.46) will be pleasantly surprised to discover that their property has gained a massive £274,316 in value to reach new average prices of £490,895.16.
Predictably, the capital has the lion’s share of price increases, featuring in nine out of the top ten, but none of the boroughs that make it to the top are traditional property hotspots.
Instead, the list is dominated by up-and-coming locations such as Hackney (second with a 105.3% increase and average prices of £604,465.62), Barking & Dagenham (third at 96.20%), Lewisham (90.84%) and Haringey (89.27).
Among established ‘prime’ destinations, only Merton (which includes Wimbledon) makes it on the list, in eighth place (85.40%). Outside the capital, the palm of top performer goes to Bristol, in seventh position with 86.73%.
At the opposite end of the scale, Scotland stood out as the most affordable place to buy, with the smallest price rises and—in one case—a decrease: Inverclyde was the third least dynamic location with rises of 5.86%, putting average prices at £108,478.36, followed by Aberdeenshire at 5.58% (£183,856.80) and in bottom place, the City of Aberdeen, which saw a decline of 12.57% (£140,357.47).
Across the UK, the average house price has increased by 54.7% to reach £256,405.17, with England faring better than the other three countries, recording a 58.6% rise to an average of £274,615.37 in 2021.
‘Ten 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%,’ notes an A-plan spokesperson. ‘Some places have seen the average price nearly double in value, reflecting just how important home ownership is to people in the UK.’
What you can find in the hotspots — and the place with the room to grow
Waltham Forest
This large Victorian house with five bedrooms and a south-facing garden sits close to Epping Forest and the golf club.
For sale at £1.775 million via Savills — see more pictures or enquire with the agent for further details
Hackney
Set close to outstanding local schools, this Grade II-listed Georgian house has four bedrooms and glorious mature gardens.
For sale at £1.595 million via Keatons — see more pictures or enquire with the agent for further details
Grab a bargain low prices in the coldest spot
Aberdeen
Originally dating from the 14th century, this magnificent six-bedroom house, which is set in four acres, was re-designed in the 19th century by Pre-Raphaelite artist Daniel Cottier, whose work still graces the main rooms.
For sale at £750,000 via Strutt & Parker — see more pictures or enquire with the agent for further details
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