Data from the Office of National Statistics shows that in the last ten years, house prices have doubled in some areas of the UK.
Areas in London and the south-east of England have seen wide-ranging hikes in prices since 2013 - with Waltham Forest in north-east London seeing the highest average rise. Average property prices in the London borough have risen 119% from £235,210 to £515,320 in the last ten years - with Thames Estuary districts of Hastings and Thanet seeing similar inflation of 115% over the same period.
North Northamptonshire saw the biggest leap in prices outside of the south-east as dwellings in the East Midlands area jumped from an average of £137,000 to £279,900 over the ten-year period - a jump of 104%.Picture:More bad news for prospective first-time buyers is that after the record growth in prices, there is now no area in the UK which boasts average property prices under £100,000.
But it isn't just southern areas experiencing a boom: four of the top 20 areas for rises are in the Greater Manchester areas as young Brits increasingly shun the expensive hub of London for England's second city.Despite the astronomical price rises, prices are likely to slow down due to a combination of rate rises and affordability concerns hamper prospective buyers in their ambitions.
When you see Luton on there you know it’s complete bollocks
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Source: i newspaper - 🏆 8. / 89 Read more »