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House prices: Towns where value of property has risen £100k during coronavirus pandemic

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There are more than 100 areas where prices have gone up more than 12 percent in the past year, according to reports. The analysis found one town as seen a rise of 37 percent.

Published by Mail Online, the report saw prices increasing outside of London, reflecting the desire for more space amid the pandemic.

Andrew Asaam, of Halifax told Mail Online: “Towns like Bury St Edmonds, Kings Lynn in Norfolk and Banbury in Oxfordshire have seen the biggest jump in house prices over the past year, while further north, Chorley and Huddersfield have also seen significant increases.

“More time spent at home over the past 12 months has also helped fuel a desire for properties with more space and broadened the scope for how people think about certain locations, as work-life balance has shifted for buyers and sellers during 2020.

“We saw a surge in the market over the second half of last year following the effective shutdown of the first lockdown, as well as people racing to benefit from the stamp duty holiday.”

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Britons across the country will be anxious about the price of their property.

While some parts of the UK have seen a huge growth in the past decade, many are concerned recent events might send them plummeting.

Buyer demand has reached “record” levels this month, according to Rightmove’s latest House Price Index.

The average price of houses being listed on the market has increased by £2,484. /life-style/property/1409921/house-prices-UK-increase-news-latest-advice-property-market-rightmove-stamp-duty-holiday

Demand is also 34 percent higher than last year.

Tim Bannister, Rightmove’s Director of Property Data said: “While it is unfortunately not the perfect time to buy for some people who have been adversely affected by the pandemic, the record buyer demand measured by Rightmove indicates that now is the right time for many.

“Record low-interest rates and the new focus on what your home needs to offer after several lockdowns have led us to the greatest excess of demand oversupply in the last ten years.

“This strong sellers’ market is good news for those who are looking to put their home on the market as the traditional Easter selling season approaches.

“Blossoming buyer demand coinciding with blossoming gardens should put a spring in the steps of sellers, and more of them coming to market will provide a much-needed increase in the choice of property for the many who are looking to buy.”

A stamp duty free period has been helping many get on the property ladder over this period of time. 

The latest data from Zoopla suggests that more than two-thirds of property for sale in the North East, North West and Yorkshire & the Humber fall under the £250,000 stamp duty threshold.

Buyers in this region will be eligible for savings up to £2,500 on each transaction they make.



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