By Anna Ellis • 12 January 2023 • 15:23
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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Originally from the UK, Anna is based on the Costa Blanca and is a web reporter for The Euro Weekly News covering international and Spanish national news. Got a news story you want to share? Then get in touch at [email protected]
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