We always hear the latest house price figures, detailing what the average property value is across the nation and by how much house prices have risen over the year or month. So which areas have actually experienced average house price growth over the past year?
The latest research by hybrid estate agent eMoov.co.uk looks at which locations are home to the average house price growth of the last 12 months.
According to the Land Registry, the average UK house price rose by 4.1% since January 2017. Using these figures, eMoov has assessed which areas have actually recorded an increase of 4.1% in the average house price in that location.
If you’re a property owner in one of the following five locations, your investment will have experienced smack bang average house price growth over the last 12 months:
- East Renfrewshire in Scotland
- St Albans in Hertfordshire
- Thurrock in Essex
- Bath and North East Somerset
- Copeland in Cumbria
Property owners in South Yorkshire, and Tonbridge and Malling also had a rather average 2017, with prices up by an average of 4.0%, as did those in Basildon, Redbridge, Daventry, East Dorset and Castle Point, at 4.2%.
Price wise, it’s Northamptonshire that currently has the closest average house price, being just £500 lower than the national average, with a price tag of £223,265 – the only part of the UK that sits in the £223,000 bracket. However, this area has enjoyed a much higher annual increase, at an average of 8.6% – almost double that of the UK average.
Russell Quirk, the Founder and CEO of eMoov, comments: “There is a tendency to concentrate on the highest and lowest growth areas when looking at the UK market, but we thought we would take an alternate look at how things have played out over the last year.
“While being branded as average may not always be the best thing, in this case, it’s certainly no insult and, in tougher market conditions, these areas have remained steady in terms of a bricks and mortar investment.”
So, should an average property investment be on the cards for 2018? It appears so!