Islington tops the record of the locations with the most important enhance in common property value in 2020 (Image: REUTERS)
When you’re planning to place your lockdown financial savings in direction of shopping for a home, there are some areas you would possibly need to keep away from.
Not as a result of there’s something improper with these locations, to be clear, however as a result of property costs have risen there within the final yr.
Prime of the record is Islington, in London, the place the common property value rose 13.4% – or £85,918 – this yr, with a median home promoting for a whopping £727,922 in 2020.
That’s fairly a bit greater than the common home value in Larger London, which presently sits at £558,272.
The newest information from Halifax reveals the cities across the UK the place property sale costs have seen the most important enhance.
After Islington comes Leeds, which noticed a property value of 11.3% – or £25,024 – adopted by Croydon, the place home costs rose by 10.9% – £39,177 – on common.
Leeds is available in second, with an increase of 11.3% (Image: Getty Pictures/RooM RF)
Locations in London make up a lot of the highest 10. Croydon (pictured) noticed an increase of 10.9% (Image: Shutterstock / Victor Moussa)
Different cities making up the highest ten embrace Wolverhampton, Hounslow, Doncaster, Inverness, Watford and Romford.
Total, the common home value within the UK has risen by 10.6%, going from £275,291 in 2019 to £304,598 in 2020.
Russell Galley, Halifax managing director, stated: ‘Very similar to many different issues about 2020, it will have been laborious to foretell which areas would see the best motion in common home costs this yr.
A house in Inverness may set you again £195,543 (Image: Getty Pictures/iStockphoto)
‘For instance, relying on the borough, you possibly can be wanting on the greatest value rise or the most important falls within the capital.
‘Home costs have leapt by greater than 11% in Yorkshire’s nice cosmopolitan metropolis of Leeds and nearly 10% in Wolverhampton on the coronary heart of the Black Nation.
‘Additional North, Doncaster and Inverness have additionally seen wholesome progress and while the general home value development this yr has been upward, anybody trying to purchase in Paisley, Hackney, or Aberdeen will discover properties price a little bit bit lower than final yr.’
The 20 cities with the most important enhance in common home costs between 2019 and 2020:
The cities, their 2020 property value common, and the share enhance in value from 2019:
- Islington: £727,922, 13.4%
- Leeds: £247,116, 11.3%
- Croydon: £397,538, 10.9%
- Wolverhampton: £217,837, 9.5%
- Hounslow: £523,659, 9.1%
- Doncaster: £176,728, 8.8%
- Inverness: £195, 534, 8.1%
- Bournemouth: £310,205, 7.7%
- Watford: £460,102, 7.7%
- Romford: £391,000, 7.6%
- Grimsby: £168,035, 7.5%
- Richmond Upon Thames: £762,749, 7.5%
- Kingston Upon Thames: £599,317, 7.4%
- Bolton: £181,853, 7.1%
- Belfast: £190,486, 7.1%
- Lambeth: £618,445, 7%
- Sutton: £468,180, 6.9%
- Newcastle Upon Tyne: £213,887, 6.6%
- Hillingdon: £493,671
- Edinburgh: £274, 246, 6%
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