Thurrock, Essex, has seen the largest increase in house prices this decade, analysis of Land Registry data by modular housing developer Project Etopia shows.
Comparison between the average house prices at the start and end of this decade1 show increases in value of up to 76.2% over the last 10 years. On average, prices have risen by 38.8% in the UK, excluding London.
Analysis of Land Registry data showed Thurrock, Essex, recorded the greatest rise in prices, increasing by 76.2%, from £156,741 to £276,164. Three Rivers and Watford, Hertfordshire, were not far behind with 75.2% and 74.3% rises respectively.
The 10 areas where house prices have risen the most over the decade (excluding London):
|
Name |
Average price at start of the decade (Jan 2010) |
Average price at end of the decade (Oct 2019) |
Change (%) |
|
Thurrock |
£156,741 |
£276,164 |
76.2% |
|
Three Rivers |
£307,791 |
£539,183 |
75.2% |
|
Watford |
£201,174 |
£350,614 |
74.3% |
|
Bristol |
£168,050 |
£291,708 |
73.6% |
|
Harlow |
£161,440 |
£278,889 |
72.8% |
|
Dartford |
£174,465 |
£297,708 |
70.6% |
|
Corby |
£109,317 |
£186,205 |
70.3% |
|
Hertsmere |
£270,495 |
£460,526 |
70.3% |
|
Southend-on-Sea |
£171,011 |
£290,592 |
69.9% |
|
Broxbourne |
£209,605 |
£355,800 |
69.7% |
Only three parts of the country, all in the north of England, saw prices decrease, falling by 7.8% in Hartlepool, 1% in Redcar and Cleveland and 0.4% in Blackpool.
The 10 areas where house prices grew the least in a decade (excluding London):
|
Name |
Average price at start of the decade (Jan 2010) |
Average price at end of the decade (Oct 2019) |
Change |
|
Hartlepool |
£115,350 |
£106,381 |
-7.8% |
|
Redcar and Cleveland |
£121,665 |
£120,489 |
-1.0% |
|
Blackpool |
£105,696 |
£105,322 |
-0.4% |
|
Middlesbrough |
£113,339 |
£113,549 |
0.2% |
|
County Durham |
£107,183 |
£107,554 |
0.3% |
|
Northumberland |
£147,251 |
£152,128 |
3.3% |
|
Sunderland |
£111,665 |
£115,907 |
3.8% |
|
Carlisle |
£129,540 |
£135,175 |
4.4% |
|
Preston |
£124,519 |
£130,013 |
4.4% |
|
Ceredigion |
£173,536 |
£182,196 |
5.0% |
Joseph Daniels, CEO of Project Etopia, commented:
“The staggering extremes of some of these house price increases this decade, topping 76% in 10 years, means owning a home remains an unachievable dream for many.
“In Three Rivers, for instance, buyers would now need mortgages of close to half a million pounds to buy an average home, leaving many properties out of reach for average earners.
“Healthy appreciation will be welcomed by many homeowners but for the wider country this is a totally unsustainable situation. The UK must accelerate house building to increase supply over the next decade and temper Britain’s affordability problems. Only Modern Methods of Construction can deliver new homes fast enough to meet the demand and ensure ordinary hard-working people can afford to buy property right across the UK.”