We’ve all heard just how great an investment property is, but new research has shed some light on the staggering growth in prices throughout the UK since the year 2000.
A study that aimed to find the highest growth in house prices since the turn of the century has discovered that a number of cities and towns have experienced growth by more than 250%.
Based on data from the Land Registry, house prices in Waltham Forest have risen the most since the new millennium. Homes in this area are valued at &436,859 – a massive 364.9% more than they were just 18 years ago.
Similar figures were seen all over London, with eight areas in total rising above the 300% mark, such as Lewisham (331.9%), Southwark (326.5%) and Westminster (318.8%).
The closest runner-up outside of London was Southend-on-Sea, with a 290.9% increase in property prices over the 18-year period, and house prices now standing at an average of &280,984.
In total, there were 19 towns and cities located outside of the capital that saw a growth of 250% or more since the year 2000. These include Luton (276.7%), Basildon (274.7%) and Corby (270.2%), which were all among the top performers.
From these results, it appears that the further south you go, the greatest growth in prices can be seen, as Salford and Sale – both within Greater Manchester – were the only two areas located in the north that managed to break the 250% mark.
