Western Britain leads the way in house price gains in the past decade: UK Property Shop News

According to figures released in the Halifax County House Price Survey of the UK, 18 or the 20 counties with the strongest house prices increases since 1996 are in western Britain, with 13 in Wales, four in the South West (Cornwall, Dorset, Gloucestershire and Somerset) and one in the West Midlands (Shropshire). The remaining two counties in the top 20 are both in the South East - the Isle of Wight and East Sussex. The 19 areas recording the smallest rise in average house prices since 1996 are all in Scotland.

The average house price in the most expensive county is currently 3.2 times that in the least expensive county - the same as in 1996. In monetary terms, however, the gap has widened significantly from £67,682 in 1996 to £206,117 in 2006 an increase of 138% in real terms (ie once the increase retail price inflation over the period is taken into account).

Biggest Price Rises

* Cornwall has recorded the biggest house price rises over the past 10 years with a 268% gain in the average price from £53,081 in 1996 to £195,388 in 2006 Quarter 1.

* The next five best performers during the past decade were all in Wales: Anglesey (252%), Ceredigion (244%), Carmarthenshire (243%), Caerphilly (229%) and Powys (222%).

* The average house price has at least trebled since 1996 in almost one in three (28) counties. Prices have at least doubled over the past ten years in all 102 counties analysed.

Smallest Price Rises

* Aberdeenshire (103%) and Dundee City (103%) have experienced the lowest average house price gains since 1996 followed by Argyll & Bute (104%) and Renfrewshire (104%).

Most Expensive

* Surrey has remained the most expensive county in the UK with a current average price of £298,835 despite being just outside the top 20 in terms of house price growth since 1996.

* Surrey, Hertfordshire, Berkshire and Buckinghamshire were the four most expensive counties in the UK in both 1996 and 2006.

* 9 of the current 10 most expensive counties are in the South East with Dorset in the South West being the exception. The 10 most expensive counties all have an average price in excess of £200,000.

* The most expensive areas outside southern England are Monmouthshire (£198,030), East Renfrewshire (£192,075), Herefordshire (£190,588) and North Yorkshire (£185,048).

Least Expensive

* Blaenau Gwent is the least expensive area in the UK with an average house price in 2006 Quarter 1 of £92,718. Blaenau Gwent was also the least expensive in 1996 when the average price was £30,884.

* The 10 least expensive counties in the UK in 2006 are all in Scotland (8) and Wales (2). In 1996, the five least expensive areas were all in Wales with the remainder of the 10 least expensive counties in Northern Ireland (3), the North (County Durham) and Yorkshire & the Humber (South Humberside).

House Price Milestones

* In 1996 no county had an average house price above £100,000 and 32 counties (31% of the total) had an average price below £50,000.

* Currently, only Blaenau Gwent (£92,718) has an average price below £100,000. Ten counties have an average price in excess of £200,000.

Commenting on the housing market in the UK, Martin Ellis, Halifax Chief Economist, said: "The last ten years has clearly been the 'Decade of the West' with areas in Wales and the South West recording the strongest house price gains since 1996. Both parts of the UK are popular areas for people seeking to relocate and for those looking for a holiday home. These factors, combined with more affordable property than that available in the South East, have contributed to the substantial house price gains in the last ten years. Despite the west's strong performance, property prices remain the highest in the South East with little change amongst those counties with the most expensive property since 1996."