Average UK property prices up 78% since 2000
Average property prices across the UK have risen by 78% (£96,979) since 2000, according to Ocean Finance.
Properties in Manchester have increased by the greatest quantity over the select timeframe, having risen by 143%, equating to a monitory rise from £73,910 to £179,537.
This was followed by Leicester which noted a 132% rise, from £82,118 to £190,440, and Southend-on-Sea which saw a 117% uptick, from £132,239 to £287,173.
The City of London, the most expensive location to feature in Ocean Finance’s top 10 list, saw an 116% rise in average property prices, resulting in an increase from £364,366 to £786,760.
Looking to property type, terraced housing rose by the largest amount since 2000, up 96%.
Semi-detached housing followed, noting an 84% rise and detached housing saw a 70% increase.
Furthermore, flats and maisonettes recorded a 69% uptick.
Sarah Neate, editor in chief at Ocean Finance, said: “Our research into how house prices change over an average ownership period has flagged some surprising trends in where the UK’s value hotspots really are.
“Manchester’s property topped the list adding 143% on average, with London lagging behind in fourth place, which suggests that property in the north is becoming more desirable.
“We also uncovered that terraced housing is the most likely to gain in value, more so than even detached houses.”