House Prices up by £228 per week over 10 years in areas with the best performing economies
Homeowners in the most economically prosperous locations in the UK have seen the value of their properties rise by almost £110,000 over the last decade, according to new research by Halifax.
Martin Ellis, housing economist at Halifax, said:
"The marked differences in local economic performance across the UK appear to have had a significant impact on the housing market over the past decade. House price growth has generally been stronger in the areas that have seen the biggest increases in economic activity. The best performing areas have also been the most resilient in terms of house prices during the downturn since 2007.
"Looking forward, the pace at which the UK economy recovers will be a key determinant of the outlook for the UK housing market. Similarly, those areas that perform best in economic terms are likely to fare best in terms of house price movements."