If you’re planning to put your lockdown savings towards buying a house, there are some areas you might want to avoid.
Not because there’s anything wrong with these places, to be clear, but because property prices have risen there in the last year.
Top of the list is Islington, in London, where the average property price rose 13.4% – or £85,918 – this year, with an average house selling for a whopping £727,922 in 2020.
That’s quite a bit more than the average house price in Greater London, which currently sits at £558,272.
The latest data from Halifax reveals the towns around the UK where property sale prices have seen the largest increase.
After Islington comes Leeds, which saw a property price of 11.3% – or £25,024 – followed by Croydon, where house prices rose by 10.9% – £39,177 – on average.
Other towns making up the top ten include Wolverhampton, Hounslow, Doncaster, Inverness, Watford and Romford.
Overall, the average house price in the UK has risen by 10.6%, going from £275,291 in 2019 to £304,598 in 2020.
Russell Galley, Halifax managing director, said: ‘Much like many other things about 2020, it would have been hard to predict which areas would see the greatest movement in average house prices this year.
‘For example, depending on the borough, you could be looking at the biggest price rise or the biggest falls in the capital.
‘House prices have leapt by more than 11% in Yorkshire’s great cosmopolitan city of Leeds and almost 10% in Wolverhampton at the heart of the Black Country.
‘Further North, Doncaster and Inverness have also seen healthy growth and whilst the overall house price trend this year has been upward, anyone looking to buy in Paisley, Hackney, or Aberdeen will find homes cost a little bit less than last year.’
The 20 towns with the biggest increase in average house prices between 2019 and 2020:
The towns, their 2020 property price average, and the percentage increase in price from 2019:
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