The average house price has risen 138% in the last decade, according to new research from Halifax Estate Agents.
While the study reported that the most expensive homes are currently to be found in Surrey, the largest increase by county occurred in Dorset, where prices have risen by 218% to £281,451 over the last decade. The fastest rises over the last 12 months have been found at the other end of the UK in Dumfries and Galloway, where prices have risen by an average of 48%, some 35% higher than the national average and 46% higher than some counties in the South West.
Jane Pridgeon, managing director of Halifax Estate Agents, said: “There has been huge variation in house price growth across the country over the past 10 years but there is little doubt that the majority of counties have done very well, with around 80% seeing increases of over 100%.”
“The past 12 months have definitely been ‘the year of the North’ as house prices in northern counties have generally outperformed the southern counties, slightly narrowing the traditional North/South divide.”
The survey also found that 52 counties now have an average house price of more than £100,000, compared to one in 1993.