The UK Locations Where House Prices are Rising Fastest
Research from national UK estate agent, Keller Williams UK, has revealed which areas of the property market in England are currently Best in Show, when it comes to price appreciation across each county since the start of the stamp duty holiday.
Keller Williams analysed house price growth since last July across all local authorities in England before highlighting which area was leading the property market boom across each of the 48 ceremonial counties.
Across England as a whole, house prices have climbed 8 per cent since the stamp duty holiday was introduced, but the highest rate of growth has been in Oadby and Wigston. At 22 per cent, house prices in the area have boomed and not only has Oadsby and Wigston seen the highest rate of growth of all areas of Leicestershire, but it currently leads the national property market.
In Lincolnshire, stamp duty house price growth has been highest in South Kesteven at 21 per cent, placing it second in the list of county property market frontrunners.
Stratford-upon-Avon (19 per cent) in Warwickshire, South Derbyshire (19 per cent) in Derbyshire and Redcar and Cleveland (17 per cent) in North Yorkshire also sit amongst the highest levels of house price growth, having driven the market in their respective counties since last July.
However, breaking the market down based on the best performing area of each county reveals that not all areas of the UK market are seeing prices boom to the same extent.
At the other end of the table, the unitary authority of Wiltshire has beaten Swindon to claim the highest rate of house price growth in the ceremonial county of Wiltshire. However, at just 7 per cent, it’s the worst performing county frontrunner in England.
Ben Taylor, CEO of Keller Williams UK, said: “The property market is booming since the introduction of the stamp duty holiday and we’ve highlighted the cream of the crop leading the house price charge in each county across England. While each area is home to the highest house price growth in its respective county, some are performing far better than others. This is down to the drastically different DNA of the market from one area to the next and it’s interesting to see how the rate of house price growth differs across the best performing areas in each county. That’s not to say that an increase of seven per cent should be sniffed at and, in fact, this would be considered a very healthy level of growth in ‘normal’ market conditions.”