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Woking Saw Biggest House Price Increase In 2011
Woking experienced the largest increase in house prices in 2011, with a rise of 16 per cent being recorded.
Using its own house price data, Halifax calculated the average price in the Surrey town stood at £299,654 in 2011, compared to £257,590 in 2010.
The majority of the towns experiencing the largest house price increases were in southern England.
However, Falkirk's advantageous position between Edinburgh and Glasgow led to a 12 per cent increase in property prices.
Ipswich, Inverness and Portsmouth completed the top five, with the former two experiencing nine per cent rises and the latter an eight per cent increase. Martin Ellis, housing economist at Halifax, said "broad stability" is expected for house prices in the year ahead.
"Prices are likely to be strongest in London and the south-east as these regions perform better economically," he added.
Figures from Halifax also recently revealed first time buyer affordability is at an eight-year high, with 44 per cent now considered to be affordable for first time buyers.
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Article date: 1/4/2012 12:00:00 AM