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<\/p>\nThe UK regions and towns with the highest and lowest house price growth over the last decade have been revealed in a new study, with the results showing a clear North-South split.<\/p>\n
It is the popular coastal town of Margate on the South coast in Kent that tops the list of hotspots for asking price rises over the past decade; the town has seen prices more than triple rising by 102 per cent in ten years to stand an average of \u00a3294,209, while Middlesbrough in North Yorkshire has experienced the lowest asking price growth with homes on average just six per cent more expensive than they were ten years ago, at \u00a3132,792.<\/p>\n
Horfield in Bristol is the second highest house price hotspot with prices up 96 per cent to \u00a3385,003 on average, and third on the list is Dover where prices are also up by 96 per cent to \u00a3254,100.
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Research via RightmoveMark Brooks, CEO of estate agency firm Miles & Barr in East Kent explains the attraction of towns in the South: \u201cThe South East has seen a great influx of those living in urban areas such as London, looking to relocate to the golden sand beaches and tranquil lifestyle of the coast or countryside. The shift to flexible and home working, added to a wide range of transport links back to London, has led to many fleeing the city.<\/em><\/p>\n \u201cKent County Council has invested heavily in Margate in recent years in an attempt to recapture the high tourist levels seen years ago. Developments such as the Turner Gallery are helping attract tourists back to the town, increasing the local economy<\/em>,” he added.<\/p>\n Over the last ten years, average asking prices across Great Britain have climbed by more than \u00a3100,000, reaching an average of \u00a3341,019 \u2013 that’s an increase of 53 percent. However, the research also shows this distinct North-South divide emerging.<\/p>\n For example, all of the top 10 house price hotspots are in the South, namely Margate (102% change), Horfield in Bristol (+96%), Dover in Kent (up 95.6%), Sheerness in Kent (+93.4%), Basildon in Essex (up 91.4%), Dartford in Kent (+90.4%), Hastings in East Sussex (+88.9%) and Bedminster in Bristol, which has enjoyed a price increase of 88.5 per cent over the past 10 years. By contrast five of the ten areas with the lowest house price growth are in County Durham in the North East and in the county of Lancashire in the North West.<\/p>\n At the bottom is Middlesbrough, where homes on average are now just 6 per cent more expensive than they were ten years ago, at \u00a3132,792.<\/p>\n Second on the lowest price growth list below Middlesbrough is Peterlee in County Durham where prices are up by eight per cent \u00a0to \u00a3112,263, and third on the list is Hartlepool, up by just nine per cent to \u00a3136,088.<\/p>\n Across Great Britain average asking prices have risen by 53 per cent over the past ten years from \u00a3222,989 to \u00a3341,019, with significant differences by region.<\/p>\n Prices in the strongest performing region, the East of England, are up by 65 per cent, while prices in the weakest performing region, the North East, are up by 25 per cent, a difference of 40 per cent.<\/p>\n Rightmove\u2019s Director of Property Data Tim Bannister said: \u201cHouse prices rising so quickly in these areas of the South is a sign of increased demand outstripping supply over the past ten years, with areas such as Margate and Hastings offering a life by the coast at a price lower than the national average. The government\u2019s target in their Levelling Up Paper to increase the numbers of first-time buyers is welcome news, but they need to ensure their plans to achieve this consider all areas of Great Britain, especially places where the rising cost of rent means many people are struggling to save enough for a deposit.<\/em>\u201d<\/p>\n <\/p>\n <\/p>\n","protected":false},"excerpt":{"rendered":" The UK regions and towns with the highest and lowest house price growth over the last decade have been revealed in a new study, with the results showing a clear North-South split. It is the popular coastal town of Margate on the South coast in Kent that tops the list of hotspots for asking price …<\/p>\n","protected":false},"author":7,"featured_media":3314,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[40,45],"tags":[91,102],"_links":{"self":[{"href":"https:\/\/www.propertista.co.uk\/wp-json\/wp\/v2\/posts\/3309"}],"collection":[{"href":"https:\/\/www.propertista.co.uk\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.propertista.co.uk\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.propertista.co.uk\/wp-json\/wp\/v2\/users\/7"}],"replies":[{"embeddable":true,"href":"https:\/\/www.propertista.co.uk\/wp-json\/wp\/v2\/comments?post=3309"}],"version-history":[{"count":0,"href":"https:\/\/www.propertista.co.uk\/wp-json\/wp\/v2\/posts\/3309\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.propertista.co.uk\/wp-json\/wp\/v2\/media\/3314"}],"wp:attachment":[{"href":"https:\/\/www.propertista.co.uk\/wp-json\/wp\/v2\/media?parent=3309"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.propertista.co.uk\/wp-json\/wp\/v2\/categories?post=3309"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.propertista.co.uk\/wp-json\/wp\/v2\/tags?post=3309"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}<\/div>\n![\"\"](\"https:\/\/www.propertista.co.uk\/wp-content\/uploads\/2022\/02\/Lowest-asking-price-growth-areas-Rightmove.png\")
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