The average price tag on a home has doubled in parts of southern England over the past decade – while further north some percentage increases have been in single digits, analysis has found.
Margate was identified as the top house price hotspot, with the typical asking price there having increased by 102.5% from £145,311 in January 2012 to £294,209 in January 2022.
Across Britain the average asking price for a home has risen by more than £100,000 over the past 10 years, up by 53% to £341,019, according to the research from Rightmove
Several other areas in southern England have seen a near-doubling of asking prices in the past decade, including Horfield in Bristol; Dover, Sheerness and Dartford in Kent; and Basildon in Essex.
The Government recently set out plans to “level up” regional inequalities, including new urban regeneration and housing projects.
Rightmove’s director of property data Tim Bannister said in some areas the rising cost of rent has left many people struggling to save enough for a deposit.
Mark Brooks, CEO of estate agent Miles & Barr in east Kent said: “The 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.”
At the other end of the spectrum, parts of Scotland and swathes of northern England including County Durham and Lancashire feature on the top 10 places with the lowest average house price growth over the past decade.
In Middlesbrough, asking prices have climbed by just 6% over the past 10 years, now standing at £132,792 on average.
Between 2012 and 2016, house prices in Middlesbrough dropped and have increased since, Rightmove said.
In Peterlee, asking prices have edged up by 8% over the past 10 years and in Hartlepool they have increased by 9%.
Rightmove’s analysis looked at towns, cities and villages across Britain, excluding London.
Here are the top 10 places with the highest percentage growth in asking prices (outside London) according to Rightmove, with the average price now and the percentage increase between January 2012 and 2022:
1. Margate, Kent, South East, £294,209, 102.5%
2. Horfield, Bristol, South West, £385,003, 96.0%
3. Dover, Kent, South East, £254,100, 95.6%
4. Sheerness, Kent, South East, £271,570, 93.4%
5. Basildon, Essex, East of England, £328,696, 91.4%
6. Dartford, Kent, South East, £352,386, 91.2%
7. Broadstairs, Kent, South East, £462,323, 90.4%
8. Hastings, East Sussex, South East, £310,182, 89.7%
9. Walderslade, Kent, South East, £321,506, 88.9%
10. Bedminster, Bristol, South West, £354,336, 88.5%
Here are the 10 places with the lowest percentage growth in asking prices (outside London) according to Rightmove, with the average price now and the percentage increase between January 2012 and 2022:
1. Middlesbrough, North Yorkshire, North East £132,792, 6.2%
2. Peterlee, County Durham, North East, £112,263, 8.4%
3. Hartlepool, North East, £136,088, 8.9%
4. Kilmarnock, Ayrshire, Scotland, £117,085, 11.7%
5. Newcastle-upon-Tyne, North East, £199,230, 12.2%
6. Blackpool, Lancashire, North West, £139,295, 12.3%
7. Fleetwood, Lancashire, North West, £135,202, 12.4%
8. Stanley, County Durham, North East, £117,500, 12.5%
9. Sunderland, Tyne and Wear, North East, £149,758, 12.6%
10. Houghton Le Spring, County Durham, North East, £148,614, 12.8%
And here are average asking price changes across Britain over the past decade, with the average asking price in January 2022:
– East of England, £396,135, 65%
– South East, £450,918, 60%
– West Midlands, £262,825, 60%
– East Midlands, £266,725, 59%
– South West, £359,201, 58%
– London, £629,286, 55%
– Wales, £230,813, 51%
– North West, £228,866, 48%
– Scotland, £162,415, 44%
– Yorkshire and the Humber, £214,988, 41%
– North East, £165,277, 25%
