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Which seaside town has seen the biggest surge in house prices in 20 years - leaping 500 per cent?


03-21-2016

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Are property prices soaring in your city or town? Figures reveal the areas where house prices have increased by nearly 500 per cent across England and Wales Alamy
 
 
BY CHARLIE PARKER

HOMES in Brighton have seen the biggest surge in value across England and Wales over the past twenty years - rocketing an astonishing 500 per cent.

On average they jumped in price from £50,000 in 1995 to £295,000 in 2015, according to the Office of National Statistics.

Cambridge saw the second biggest rise with prices shooting up 414 per cent.

The Sun

Economists analysed property sales data from 112 towns and cities in England and Wales.

St Albans in Hertfordshire also saw a massive price jump. Averages soared from £80,500 in 1995 to 390,000 in 2010 - an increase of 384 per cent in just 15 years, stats say.

The figures show that London was not far behind, where prices grew by 358 per cent with averages moving from £83,000 to £380,000.

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House prices have soared by nearly 500 per cent in Brighton and Hove between 1995 and 2015 Alamy

The North and Midlands saw average house prices grow between 150 - 250 per cent over the same period.

Mortgage broker Andrew Montlake claimed families are more attracted to Brighton, Cambridge and St Albans because of their improved commuter links to London, good schools and green spaces.

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Cambridge saw the second largest jump but has the fastest growing house prices, stats say Alamy

On the other end of spectrum, the towns and cities experiencing the smallest increases are Burnley and Lancashire.

The price tag on a typical home in these areas increased by 148 per cent over the 20 year period.

The second smallest increase was in Bradford, West Yorkshire, where average prices grew from £38,000 to £100,000 - 163 percent.

Researchers found that 29 out of the 45 towns in the South of England had an average house price larger than £200,000, compared to just three out of 65 in the North and Midlands.

Cambridge was shown to have the fastest growing rate, jumping by almost 47 per cent in the last five years.

London was also a fast grower, with average house prices rising by 38 per cent over the same time.

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Average prices in London rose by £297,000 (358 per cent) over the two decades Alamy

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Meanwhile prices in Blackpool (pictured) fell by £2,500 and remained the same same in Carlisle, Darlington, Halifax and Walsall Alamy

Prices decreased in Blackpool, Southport, Bradford and Swansea, but remained the same in Carlisle, Darlington, Halifax and Walsall.

The official ONS report said: "Cambridge and London both saw median house prices increase by over £100,000 (between 2010 and 2015).

"By Contrast, median house prices in Swansea and Southport both declinced by £5,000 over the same period."

www.thesun.co.uk

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