Winchester tops list of 10 UK cities with the highest house price growth

House prices in the city have gone up 79 per cent in the last ten years

Winchester has had the highest house price growth of any UK city in the last 10 years.

House prices in the city have gone up 79 per cent in the last ten years from an average of £249,703 in 2006 to £446,796 in 2016. The city is one hour by train from London, making it attractive to commuters.

Cambridge, Brighton, St Albans and Aberdeen also made the top five for house price growth of between 50-70 per cent in the last 10 years. Aberdeen is the only city outside the southern counties of England in the top 10 of cities to see large house price growth.

London came in a number six with house price growth of 56 per cent, from an average of £280,818in 2006 to £437,825 in 2016. London house prices have accelerated faster than anywhere else in the country in the last five years, showing 53 per cent change.

Researchers from the annual Lloyds Affordability Survey acknowledged that London average figures vary  considerably across the capital. Central boroughs are less affordable than the Greater London average.

Home affordability, measured as the ratio between the average house price and gross local earnings, is at its worst level in eight years. The affordability of a house has now dropped to levels not seen since the ratio rose to 7.2 at the height of the last housing boom.

In the same survey, Lloyds Bank named Oxford as the least affordable city in the UK because of its appeal to commuters working in London.

House prices in Oxford are almost 11 times average annual earnings in the city, at £364,429 on average.

The 10 UK cities with the highest average house price growth 2006-2016

1. Winchester: +79%

2006: £249,703

2016: £446,796

2. Cambridge: +66%

2006: £228,256

2016: £378,465

3. Brighton And Hove: +63%

2006: £205,725

2016: £335,563

4. St Albans: +60%

2006: £286,524

2016: £458,404

5. Aberdeen: +58%

2006: £135,468

2016: £214,160

6. Greater London: +56%

2006: £280,818

2016: £437,825

7. Chichester: +51%

2006: £235,424

2016: £355,958

8. Chelmsford: +51%

2006: £214,547

2016: £323,274

9. Oxford: +47%

2006: £248,133

2016: £364,429

10. Bath: +44%

2006: £247,757

2016: £357,063

 

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