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Properties within the space residence to former Labour chief Jeremy Corbyn value a median of £727,922 in 2020, up 13.4 per cent on 2019 with greater than double the typical progress within the capital.
Leeds noticed the second highest enhance (11.3 per cent), adopted by Croydon in south London (10.9) and Wolverhampton within the West Midlands (9.5).
No space noticed home costs fall by greater than two per cent regardless of fears the coronavirus pandemic might considerably depress the market.
Paisley in Scotland noticed the largest fall with a 1.7 per cent lower to £138,036, adopted by Hackney east London with a 1.5 per cent lower to £636,002. The solely different areas to see decreases have been Aberdeen and Falkirk in Scotland and Merton and Greenwich in south London.
“Much like many different issues about 2020, it could have been arduous to foretell which areas would see the best motion in common home costs this yr,” mentioned Russell Galley, Halifax Managing Director.
“For instance, relying on the borough, you might be wanting on the greatest value rise or the largest falls within the capital.
“House costs have leapt by greater than 11 per cent in Yorkshire’s nice cosmopolitan metropolis of Leeds and virtually 10 per cent in Wolverhampton on the coronary heart of the Black Country.
Table: Areas with highest progress in home costs in 2020
| Area | Average home value in 2020 | % change 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 |
“Further North, Doncaster and Inverness have also seen healthy growth and whilst the overall house price trend this year has been upward, anyone looking to buy in Paisley, Hackney, or Aberdeen will find homes cost a little bit less than last year.”
London boroughs took 9 of the highest 20 locations within the progress desk. Inverness had the very best rise in Scotland (8.1 per cent), whereas Belfast (7.1) had the very best in Northern Ireland.
The figures are taken from the Halifax home value database and use the arithmetic common costs of homes – in any other case often called crude averages – on which a suggestion of mortgage has been granted.
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