Fastest rising house price areas in 2017

The East Midlands and Wales saw the value of homeowners’ properties rise faster than anywhere else in the UK last year, according to the UK’s largest mortgage lender.

Halifax said that both areas saw prices rises of 8% during 2017.

The West Midlands also saw strong gains where prices went up by 5%, and 4.9% in the South West. The slowest increase for six years was seen in London where prices rose by just 1%.

At the other end of the scale, Scotland saw a small fall of 0.2%, while prices in Northern Ireland fell by 5.6%.

Earlier this week, Halifax said that prices rose by 2.7% across the UK in 2017, less than 50% of the growth rate in 2016.

There are still four areas that have lower prices than a decade ago: Scotland, Northern Ireland, Wales and the north of England and Wales.

Over the past 10 years, the best performing regions include the South East, where values have risen by 32% and London, where prices have risen by a whopping 45% since 2007.

Cheltenham saw the largest price increase in 2017. During the year, values increased by 13% in the Gloucestershire town.

Perth in Scotland saw the largest fall in property value, with a decline of 5.3%.

Want to see how values are doing in your area, visit the link below.

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