New figures from Halifax reveal the areas in the UK where house prices have increased the most.
The average property price in the London borough of Islington is now £727,922, an increase of 13.4% in 2020. Nine of the top 20 UK property price risers were in Greater London.
Hounslow house prices rose by 9.1% to £523,659, while Croydon’s average house price rose by 10.9% to £397,538. However, not all homes in London experienced growth. Houses in Hackney had the second biggest fall, with prices falling by 1.5%.
Outside of London, house prices in Leeds rose by 11.3% to an average of £247,116.
“As with so many things about 2020, it would have been difficult to predict which regions would see the biggest changes in average house prices this year,” Halifax managing director Russell Galley said. For example, depending on the district, you can look at the biggest price increases or biggest price declines in the capital city.
“House prices have soared by more than 11% in Yorkshire’s cosmopolitan city of Leeds, and by almost 10% in Wolverhampton, the heart of black country.
“Further north, Doncaster and Inverness are also seeing healthy growth, and the overall trend in house prices this year is upwards, but anyone looking to buy in Paisley, Hackney or Aberdeen should be aware that house prices are You’ll notice that it’s a little cheaper than last year.
In Edinburgh, Scotland, house prices rose by 6% to an average price of £274,246. In Glasgow, house prices fell by 1.7%.
The top 10 growth rates in 2020 are as follows.
1. Islington – 13.4% ~ £727,922
2. Leeds – 11.3% to £247,115
3. Croydon – 10.9% to £397,538
4. Wolverhampton – 9.5% to £217,837
5. Hounslow – 9.1% to £523,659
6th Doncaster – 8.8% at £176,728
7. Inverness – 8.1% vs. 195,534
8th Bournemouth – 7.7% on £310,205
9th Watford – 7.7% on £460,102
10. Romford – 7.6% to £391,000
