House prices in Britain: the average cost of buying a home in every region

New figures reveal the change in house prices over the past year and highlight the regions with the fastest growth in Britain...

Click to follow

House-prices in the east and south-east of England are rising almost as quickly as those in the capital, according to the latest figures released by the Land Registry.

In the Eastern part of the country, which stretches from Hertfordshire to Norfolk, prices have risen by 10.6 per cent in a year - just two per cent lower than the annual growth seen in London.

Not far behind is the South-East, the UK's third-fastest growing region, with 9.5 per cent increases recorded during the past 12 months. Taking in the popular commuter hotspots of Buckinghamshire, Surrey and Hampshire, this region has always closely shadowed London in terms of price rises. 

However, the capital still far outstrips both areas in terms of property values. Average house prices in London have now reached beyond the £500,000 mark, about double the value of those in the East (£218,837) and South East (£261,581) regions.

"Both regions are well positioned to benefit from buyers looking for more for their money outside the capital, but still within easy commuting distance of central London, says Sophie Chick of Savills' estate agents residential research.

Research by Savills points to rises in the East and South-East regions of about 25 per cent over the next four years, compared to a forecast of 10 per cent in London. 

House prices in the South-West, North West, West Midlands and Yorkshire & The Humber continue to show slow but steady growth. 

However Wales, the North-East and East Midlands - home to some of the most affordable housing in the UK - all recorded negative monthly growth.

Follow us on Twitter @HomesProperty, Facebook and Instagram