You are here: Home - Mortgages - Buy To Let - News -

Revealed: The UK’s property hotspots over the last five years

0
Written by:
29/04/2021
Which areas have seen the greatest rise in property prices since 2016 and which the greatest falls?

Na h-Eileanan Siar in Scotland, also known as the Outer Hebrides, has seen the UK’s biggest increase in average house prices in the past five years, according to IVA Advice.

The debt advice business analysed Office for National Statistics data to show the average price of a house there in February 2021 was £132,397, compared to £87,494 in February 2016 – an increase of 51.32%.

Despite the rise Na h-Eileanan Siar is still among the 30 lowest priced areas in the UK.

In second place was Newport in Wales, where the average price has jumped by 46.9% from £142,820 in 2016 to £211,332 this February.

Salford saw the third highest increase of 44% from £129,563 to £186,600 over five years.

Leicester (43%) and Merthyr Tydfil (42%) complete the top five property hotspots.

Biggest losers

At the other end of the scale, the City of Aberdeen saw the biggest reduction in house prices compared to five years ago. In February 2016, the average price in the city was £195,492, but it has since fallen by 19.88% to £142,874.

Hammersmith and Fulham in London has seen the second biggest drop of 14.65%. The average house price in February 2021 was £659,864, but in 2016 it was £773,192.

Across the UK, the average house price in February 2016 was £205,555, while the latest figures stand at £250,340 – an increase of 21.78%.

There are 0 Comment(s)

If you wish to comment without signing in, click your cursor in the top box and tick the 'Sign in as a guest' box at the bottom.

Everything you need to know about being furloughed

Few people had heard of ‘furlough’ before March 2020, but the coronavirus pandemic thrust the idea of bein...

The savings accounts paying the most interest

If one of your jobs this month is to get your finances in order, moving your savings to a higher paying deal i...

Coronavirus and your finances: what help can you get in the second lockdown?

News and updates on everything to do with coronavirus and your personal finances.

What will happen if rates change

How your finances will be impacted by a rise in interest rates.

Regular Savings Calculator

Small regular contributions can build up nicely over time.

Online Savings Calculator

Work out how your online savings can build over time.

Having a baby and your finances: seven top tips

We’re guessing the Duchess of Cambridge won’t be fretting about maternity pay or whether she’ll still be...

Protecting family wealth: 10 tips for cutting inheritance tax

Inheritance tax - sometimes known as 'death tax' - can cause even more heartache for bereaved families. But th...

Travel insurance: Five tips to ensure a successful claim

Ahead of your summer holiday, it’s important to make sure you have the right level of travel cover or you co...

Money Tips of the Week

Privacy Preference Center

Necessary

Advertising

Analytics

Other

Read previous post:
BLOG: Tips on building a nest egg for your children

How can you get your children on track to having a good financial start to their adulthood?

Close