The areas to have seen the most consistent growth in the last decade

How has the UK performed?

We analysed market performance based on the average annual rate of growth seen across every area of the UK over the last 10 years and the research shows that at a national level, house prices have increased at an average rate of 4.3% each year since 2011.

London leads the way

Despite London currently seeing the lowest rate of house price growth of all UK regions, the capital tops the table in terms of property price pedigree over the last decade. London property values have climbed by an average of 5.9% per year since 2011, with the East of England (5.1%) the only other region to see an average annual rate of growth exceeding five per cent.

The North East trails at a regional level with house prices climbing by an average of just 1.8% per year since 2011.

The best performing London boroughs

London’s strong performance is also clear at local authority level, with Waltham Forest seeing the highest average annual rate of house price growth of all areas over the last decade. The average house price in the borough has climbed by 8.5% per year, with Lewisham close behind at 7.2%.

Newham (6.8%) and Barking and Dagenham (6.8%) also rank within the top 10, as does Hackney (6.5%).

Best performances outside of London

However, it’s not just London boroughs that have seen the most consistently strong prices increases since 2011.

Corby has seen the third largest average annual increase at 7%, followed by Dartford (6.9%). Thanet has also performed well (6.5%), along with Hastings (6.5%) and Thurrock (6.4%).

The City of Aberdeen is the only area to have seen negative movement, with house prices falling by an average of -0.9% a year over the last decade.

Insights & Analysis

Matthew Cooper, Founder & Managing Director of Yes Homebuyers, commented:

“While many have been quick to call the current stamp duty holiday a resounding success, the reality is that we currently find ourselves in a very precarious position. The market is extremely overheated with demand continuing to outweigh supply. This has lead to huge backlogs throughout the property industry as sales drag on indefinitely and many fall through, and it's caused a spike in demand for our property cash buying service. But to compound the issues further, it seems that it’s only a matter of time before the bubble bursts.

When it does, we’re likely to see property values across large swathes of the nation slump considerably, with only the most Teflon coated pockets avoiding any notable decline.

The good news is that the market is very cyclical in nature but the key is to enter into any purchase with a long-term view, particularly if the motivation is making a profit on your brick and mortar purchase.

With this in mind, a market health check is far more accurate when done over the course of a decade or longer. Doing so will help you identify the real property market hotspots, as opposed to those currently masquerading as such with the help of stamp duty fuelled, artificial price increases.”