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News

March 21, 2016

House Prices


Office for National Statistics figures on property prices in 112 cities and towns across England and Wales reveal Brighton has seen the biggest surge in house prices, with average values climbing 490% from £50,000 in 1995 to £295,000 in 2015. Cambridge has seen the second biggest increase, with prices up 414% in two decades. St Albans, in Hertfordshire, saw the biggest price jump in absolute terms – from an average of £80,500 in 1995 to £390,000 in 2010, while London followed with prices up from an average of £83,000 to £380,000. Prices in Burnley have grown the least since 1995, with a typical home increasing by £46,500, or 148% to £78,000. Focusing on recent market activity, the ONS said Cambridge and London both saw median house prices increase by over £100,000 between 2010 and 2015. At the other end of the scale, Swansea and Southport both saw declines of £5,000 in the same 5 year window. The figures also show that in 2015, 29 out of the 45 towns in the South of England had an average house price in excess of £200,000 compared to just three out of 63 in the North and Midlands.