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UK Prosperous Regions See Substantial House Price Hikes

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UK Prosperous Regions See Substantial House Price Hikes

By - Thursday 23 June 2011

Economically prosperous areas of the UK have experienced significant house price rises over the past decade, new figures have shown, which could be good news for anyone with property investments in locations such as London, Liverpool, Belfast and Edinburgh.

Halifax has revealed that average house prices have increased by 219 per cent between 1998 and 2008 in the ten regions that experienced the biggest rise in economic activity during this period. As a result, mean values have jumped from 67,178 GBP to 214,162 GBP.

The financial organisation went on to point out that since 2008 and the credit crunch the areas that have proved resilient in terms of their economic activity have also registered the smallest falls in property values.

Data published by Savills earlier this month revealed that the London property market is being buoyed by foreign investors, who collectively inject 3.3 billion GBP into the sector every year. Interest from India, Pakistan and China in the prime London sector is increasing, the firm noted, although western Europeans are still the largest group of overseas buyers.

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