The UK's 25 hottest housing markets
House price winners
We often talk about 'the UK housing market' and 'UK house price inflation' as if there is one housing market and one rate of house price inflation. Neither is true.
The UK is made up of hundreds if not thousands of tiny housing markets, which operate independently of each other. One person buying a home in Swindon does not move the housing market in Stockwell.
In this article, we look at the hottest 25 housing markets across the country.
Biggest house price increases last month
The biggest house price winners last month were in Kensington and Chelsea in London where house prices increased by 5.6%
In second place came North Lincolnshire in Lincolnshire where house prices increased by 5.3% and in third place with house prices rising by 5.1% was Richmondshire in North Yorkshire.
Interesting to see that two of the top three are in the same region.
House price winners last month - absolute money terms
If we look at house price growth in absolute, money terms, the biggest winners were in London: Kensington and Chelsea taking the crown with house prices up £77,595 followed by the City of Westminster where house prices rose by £24,529, completing the podium was Mole Valley where house prices went up by £19,452
Biggest house price increases last year
If we look at house price growth over the last twelve months, then Devon is the place to be.
The Vale of Glamorgan is up a whopping 24%, followed by Hyndburn up 22.6% and in third place was Cherwell up 22.0% It seems to us like the pandemic race for space has certainly favoured the less densely populated more rural areas.
House price winners last year - absolute money terms
However, when it comes to absolute house price rises London take the honours. Average house prices in Kensington and Chelsea increased by £245,033, Richmond upon Thames saw average house prices increase by £94,458 and the City of Westminster saw average house prices rise by £76,319.
Lockdown house price winners
If there is a silver lining to the lockdown cloud then homeowners certainly enjoyed a lot of the available lining.
House prices in Kensington and Chelsea have increased by £113,619 since the start of lockdown one, house prices in Richmond Upon Thames have increased by £111,693, and in third place Mid Sussex where house prices have risen by £92,053 since the start of lockdown one.
If we look at the bottom end of the league table, only one local authority has witnessed falls in average house prices: the City of London where average house prices have fallen by £93,834 since the start of lockdown one. House prices have risen the least in the London borough of Tower Hamlets, up £5,026 and in Slough house prices have increased by £12,540.
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