Average house prices in the ten areas that recorded the largest falls in the unemployment rate in the decade to March 2014 rose by 68%, or £198,709, to £334,404.
During this ten-year period the unemployment rate in these areas fell by an average of 1.3%.
The top performing locations for employment were split between areas of northern Scotland and inner London.
In the Shetland Islands the average house price has more than doubled (104%) in the past decade to £153,782, followed by Hackney (84%) then Southwark and the western isles (both 78%).
Meanwhile house prices in Lambeth rose by 76% and Tower Hamlets rose by 72%.
All of these areas have seen their unemployment rate fall by between 1.1% and 1.8% since 2004.
In contrast the average property price across the rest of the UK has grown by 22%, £36,482, to £199,000 over the last decade whilst the national unemployment rate has risen by 0.5%.
At the other end of the spectrum the top ten areas with the lowest house price performance and a higher unemployment rate are generally concentrated in Northern Ireland and outside southern England.
These areas include Lisburn in Northern Ireland where the average house price has grown by 5% to £121,310 in the past decade.
Lisburn is followed by Craigavon in County Armagh (9%), Belfast (14%), Newport in south east Wales (15%) and Blackpool (19%).
The top ten areas with the lowest price performance have an unemployment rate that is on average 2.2% higher now than in March 2004.
Nitesh Patel, housing economist at Lloyds Bank, said: “During the recession of 2008-09 property values fell across most areas even where the unemployment rate rose only marginally.
“This does highlight that while unemployment is important there are also other factors that drive house prices, such as affordability, earnings growth and low housing supply which will have contributed to rising prices in the earlier year.”
