Halifax detail which area in the country saw the biggest housing price rise

Halifax detail which area in the country saw the biggest housing price rise

According to research from the Halifax, house prices in the Gloucestershire town of Cheltenham grew at the fastest speed across the UK in 2017.

The lender discovered that Cheltenham – famed for its horse racing track – saw prices rise by a considerable 13% to an average of around £313,150.

Meanwhile, Scottish town Perth saw the largest fall in prices, with the average standing at around £180,687 – a 5.3% drop.

Perth was followed by Stoke-on-Trent when it came to prices falling, with the average dropping 4% to 152,340, while Paisley went through a decline of 3.6% to £123,665.

Generally, the majority of the larger gains were in London and the south of England, while Yorkshire, the Humber and Scotland occupied the majority of the list of biggest fallers.

According to Halifax, the average increase in house prices across the UK was 2.7%, with the lender basing their figures on the data compiled by their mortgages.

Elsewhere in the country, Bournemouth picked up the second-biggest rise nationwide, with prices going up by 11.7%, while another seaside town in Brighton came third, with house prices going up by 11.4%.

Speaking about the data, Halifax managing director Russell Galley went into more detail when speaking about the rises to the BBC.

“A number of towns and cities have recorded significant rises in house prices over the past year, with all of the top 20 performers recording growth of at least double the national average,” Galley said.

“Unlike last year, the top performers are not exclusive to London and the South East, with the top spot now belonging to Cheltenham in the South West, and towns in East Anglia, East Midlands, North West, Wales and Yorkshire and the Humber also making the list.”

Despite Galley’s comments, 15 of the top 20 house price increases were in southern England and London.

The only exceptions to this list were Nottingham, where prices went up by 8.9%, Lincoln (8.4%), Huddersfield (9.3%), Swansea (7.7%) and Stockport (8.2%).

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