Average house prices have risen in 70 local authority areas over the last year, research from Halifax reveals.
That’s in contrast to the national average, where prices have dropped by 3.9% over the previous 12 months.
The Halifax study analysed house prices in more than 300 local authority areas across the country in the three months to September, compared with the equivalent figures from the same period of last year.
While 70 local authorities have seen some growth, certain areas have seen more substantial rises than others.
For example, Powys in Wales has enjoyed annual house price growth of 17.4%, the equivalent of a jump of more than £37,000 in cash terms.
Here is how the 10 local authorities with the largest price jumps shape up according to the Halifax study:
Kim Kinnaird, director of Halifax Mortgages, noted that there are multiple factors which can impact house prices in a local area, ranging from availability and quality of housing to local schools and job opportunities.
She continued: “What’s clear is that the UK housing market is not a single-entity that performs in a uniform way across the country, there are differences. While at a national level the current squeeze on mortgage affordability has seen property prices fall over the last year, in many regions there remain pockets of house price growth.
“While a limited supply of properties for sale could be a factor, this also suggests in some areas, local market activity – and demand among buyers – remains strong.”
Kinnaird noted that many of the places which have outperformed have benefited from more remote or rural surroundings, with homeowners continuing to be keen on living in these areas.
