Newham Tops 2015 List Of Rising House Prices
12-29-2015
All top ten areas were in London and the South East while the worst performing included Merthyr Tydfil and Kensington and Chelsea.
The London borough of Newham has topped the list of house price winners over the past year according to figures from lender Halifax.
It compared to an average 10.1%, or £21,000, climb across the UK to £230,672, and a 12% rise across the capital.
The top ten biggest increases were all in greater London or the South East. Outside this area the largest percentage rise in value was seen in Stroud, Gloucestershire, up 15%.
Worst performing area was Merthyr Tydfil where prices fell by 3.8%, or just over £4,000, to an average £103,983. Colwyn Bay, Durham, and Coalville also saw price falls.
The prime central London borough of Kensington and Chelsea was the seventh worst performing area in the country with sluggish house price growth of just 1%. But this was still enough to see the average price climb past the £800,000 mark to £807,407.
It comes after recent stamp duty changes which have made transactions at the top end of the market more expensive though cheaper for most buyers.
Martin Ellis, housing economist at Halifax, said: "Those areas that have seen the biggest house price increases over the past year are either in outer London or within close commuting distance of the capital.
"Demand in these areas has risen as rapid house price rises in central London in the past few years have caused increasing numbers of people to look for property in more affordable areas.
"A few towns have experienced modest price falls. These areas are typically still suffering from relatively weak employment and economic conditions, which has dampened local housing demand."