Sunday, 20 August 2017

10 places in the UK where house prices are rising the fastest

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10 places in the UK where house prices are rising the fastest
The Gentleman

Today, the Office for National Statistics revealed that, in the wake of the Brexit vote, house prices have continued to rise strongly. But some regions have survived the ‘out’ vote more strongly than others – so just where can you find the fastest-rising house prices in Britain?

10 places in the UK where house prices are rising the fastest

10. Isle of Wight

As England’s largest, off shore island, the Isle of Wight is located off the coast of Hampshire. With festivals including Bestival raising the bar in recent years, the island has attracted a lot of attention, and saw an 8.9 per cent rise in house sales over the last year.

9. Blaenau Gwent

A county borough of South Wales, Blaenau Gwent is home to the towns of Abertillery, Brynmawr, Ebbw Vale and Tredegar. House rises are rising so quickly in this county borough primarily because they were so low to begin with, but with more money being poured in from property developers, gentrification looks set to take hold.

8. Bracknell Forest

Berkshire’s Bracknell Forest encompasses the towns of Bracknell, Sandhurst and Crowthorne. With one of the highest average life expectancies in Britain (over 80), the home of Waitrose is fast becoming one of the most appealing areas of the South to live – with house prices rising by 10.6 per cent in the last year as a result.

7. Slough

Some of the world’s most powerful companies have their head offices in Slough, and its proximity to Heathrow Airport mean that travel links are second to none. And, as one of the new key stops on the soon-to-open Elizabeth Line, a house price rise of 10.6 per cent is hardly surprising.

6. Thurrock

This area of Essex is a solid staple of London’s commuter belt – and a key part of the Thames Gateway redevelopment zone. On the river, and close to the M25, more and more commuters seem to be wising up to convenience of Thurrock – and the 10.9 per cent rise in house prices reflects this.

5. Milton Keynes

Transport links appear to be key in the pattern of rising house prices. Milton Keynes – a major axis of the Grand Union Canal, home to five railways stations and in close proximity to the M1 – is the fifth-fastest rising area in Britain, with prices up 11.4 per cent year on year.

4. Bournemouth

Somewhat of a standout, a large coastal resort town doesn’t fit the mould of the other entries on this list. Despite having access to London Waterloo, Bournemouth isn’t as established a commuter town as some areas of Essex or Berkshire – however, it is swiftly climbing the style ladder and forging an identity as an it-location. House prices have risen by 11.7 per cent throughout 2016.

3. Swindon

Midway between Bristol and Reading, this expanded town sits on the Great Western Railway, making it a key junction between both North, South, East and West. Sitting at the centre of the compass seems to be paying dividends, with a 12.6 increase in house prices this year alone.

2. Luton

As well as being home to its eponymous airport, Luton is also home to the University of Bedfordshire, a National Rail hub station and several large shopping centres. It may have had a bad rep in the past, but with house prices up 15.3 per cent, and still growing, it seems as though things are looking up.

1. Reading

Another southern settlement, Reading tops the list with house price growth of 16.2 per cent. But why such a staggering figure? Firstly, the town is the west-end point of the upcoming Elizabeth Line, giving Reading a huge transport link boost, but the Berkshire town has also seen redevelopment of late, and is a burgeoning centre for culture, business and education alike.

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