UK house prices: new report reveals Britain's fastest-growing regions

Discover which region has overtaken London with the biggest monthly price growth, according to the Land Registry's latest figures.
Yorkshire and The Humber takes the top spot of all UK regions for the highest monthly house price rises, according to new figures released by the Land Registry.  

The region's staggering monthly price growth of 2.7 per cent comes after annual growth of just 3.1 per cent, and takes the average cost of buying a home to £123,471. Yet Yorkshire and The Humber is only the sixth-fastest growing region out of 10 UK areas.

It's no surprise that London has recorded the highest annual house price increase, rising by 10.9 per cent over the past year to an average £474,544.

According to Adrian Gill, director of Your Move and Reeds Rains estate agents: “The election rattled the cage of the London market more than others, with the threat of mansion tax hanging over high-end buyers, who are already having to fork out more on stamp duty.  

“Activity in the capital should start to flourish again. But in the meantime, London has been knocked off its perch by Yorkshire & The Humber, which saw the biggest monthly jump in property values across the country.”

STARTING WITH THE NORTH-EAST IN 10TH POSITION, WE REVEAL THE LATEST HOUSE PRICE GROWTH RATES FOR THE UK REGIONS...


The South-East, stretching from Berkshire to the Isle of Wight, and the East of England region taking in the areas from Hertfordshire to Norfolk, come in second and third positions on the table, with increases of 8.8 per cent and 7.8 per cent over the past year.

With property prices averaging £244,238 in the South-East, they are still about £200,000 less than London. However, with the average cost of buying a home in England and Wales now at £179,817, these areas are still significantly higher than other UK regions.

The figures show that Wales and the North-East are the only regions to experience a decrease, with average property prices in Wales dropping by 1.1 per cent, and throughout the North-East by half a per cent. The North-East is also the only region to record an annual fall, with prices dropping by an average 0.6 per cent.

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