UK cities with strongest house price growth see average property value increase by more than £50,000

This figure is +15.2 per cent over the last year (up to November 2022), according to new data from Halifax.

York saw the highest property price inflation of any town or city in England and Wales during 2022, growing by +23.1 per cent (£69,648) over the course of the last year. Since March 2020, average house prices in the historic city have risen by +41.9 per cent from £261,183 to £370,639 (£109,457).

Woking, with its good links to central London, saw the biggest increase of any town or city in cash terms in 2022. The cost of buying a home in the desirable commuter town leapt from £493,299 in 2021 to £586,925 in November 2022, an increase of £93,626 (+19.0 per cent).

The question being asked is London falling out of favour with house buyers? While house prices in London have increased at a slower pace (+7.2 per cent) than other parts of the UK, prices in the capital are still comfortably the most expensive in the country at £596,667.

No London boroughs appeared in the top growth areas for year-on-year house price increases. The popular residential district of Islington saw a rise of only +0.4 per cent over the year, among the lowest in the country. However, properties in the area still had a large average price tag of £712,843.

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