East Anglia leads the way on price growth per square metre

Mortgage Introducer

August 20, 2018

House prices in East Anglia have risen by 7% per square metre in the past year – the steepest increase across the whole of Great Britain, Halifax data shows.

Across Great Britain as a whole the price per square metre rose by 3%.

The biggest increases were in Burnley in the North West and Market Harborough in the East Midlands, where prices per square metre have increased by 24% and 20% respectively.

Greater London was the worst performing region with price growth per square metre of less than 1% in the past 12 months.

However prices are still £5,131 per square metre, which is far in excess of most regions in Great Britain.

Russell Galley, managing director, Halifax, said: “It is no surprise that Greater London is substantially more expensive than anywhere else in the country.

“Should recent trends persist, prices in the capital will continue to tread water whilst the rest of the country slowly plays catch up.

“While cheaper locations such as Scotland and Wales have started to increase more rapidly over the last 12 months, the prices per square metre in Scotland and Wales mean home buyers can get a lot of house for their money in these regions compared to Southern England.”

Only 11 or 31 London boroughs increased in terms of the price per square metre, with Kingston upon Thames and Newham leading the way with 4% increases.

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