Record house price in last decade

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Towns and cities within commuting distance of London have seen property asking prices increase substantially in the last decade, according to new research.

Cambridge has seen values rise the most with growth of 75.3% from 2006 to 2016, taking the average asking price to £463,093, followed by Walton on Thames with a rise of 71.8% to £663,811.

The research from property portal Rightmove also show that Maidenhead has seen a 65.3% rise in prices over the decade to £539,653, Leigh on Sea a rise of 65.2% to £394,333 and Slough an increase of 64.1% to £363,381.

But prices in London have risen even more with a rise of 84.7% in the last decade and now those seeking cheaper properties within commuting distance face paying high prices too.

But in the last 12 months it is towns and cities further away from the capital city that have seen the strongest growth in asking price, led by Bath where prices increased by 17.8% from December 2015 to December 2016 to £495,491.

The next biggest increase was in Wellingborough with a 14.9% rise to £185,269, then Frome with a 14.5% rise to £284,478, Whitstable with a 14.3% rise to £389,010 and Wimborne with a 14% rise to £453,286.

The annual round up from Rightmove also shows that the average time for a property to sell across England and Wales in 2016 was 64 days. The fastest place to sell outside London was South Ockendon at 25 days, while in London homes sold the quickest in Sidcup in only 22 days.

Manchester topped the list for both buyers and renters in 2016 followed by Bristol for buying and Birmingham for renting. In Scotland Edinburgh made it in to the top 10 for buyers, while Glasgow made the list for renting.

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Written by: Houseladder

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