House prices boom: The 10 UK hotspots where house prices have skyrocketed most

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House prices: Expert discusses 'interesting' pricing differences

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House prices are continuing to rise following the New Year rush, with more sellers and buyers climbing the property ladder. While prices vary across the UK, there are a number of hotspots which have seen a sharp climb in their local property values. For some, prices have risen by as much as 88 percent – but where are sale values soaring the most?

New data from Rightmove shows growing momentum in the property market, with listings and buyer demand both on the up.

The latest Nationwide house price index showed the strongest start to the year since 2005, recording the fastest January rate in 17 years.

In January, the HPI rose at an annual rate of 11.2 percent, exceeding predictions of a lower 10.8 percent rise.

The Financial Times says a “strong labour market” is supporting house price growth – and there are 10 hotspots which have seen an impressive rise.

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Where have house prices risen the most?

From Yorkshire and the Humber to South East England, there are a number of spots right across the country which have witnessed the sharpest increase since January 2021.

According to the latest Rightmove data, these are the top 10 locations with the sharpest rise

  • Bexhill On Sea, East Sussex – 88 percent rise
  • High Peak, Derbyshire – 82 percent rise
  • Chelmsford, Essex – 58 percent rise
  • Burton-On-Trent, Staffordshire – 54 percent rise
  • Sutton Coldfield, West Midlands – 37 percent rise
  • St. Albans, Hertfordshire – 36 percent rise
  • Nuneaton, Warwickshire – 32 percent rise
  • Shrewsbury, Shropshire – 31 percent rise
  • Leigh-On-Sea, Essex – 29 percent rise
  • Bradford, West Yorkshire – 26 percent rise

Bexhill-on-Sea

With an average asking price of £342,265, buyers in Bexhill-On-Sea can expect to pay 88 percent more for a property than they would have this time last year.

A quick move is also on the cards for property seekers in this Victorian seaside town, with the average move taking just 35 days.

This coastal spot is less than two hours from London by train, with top-notch schools and cultural attractions, including the seafront De La Warr Pavilion.

Local estate agent Mark Pelham, senior sales negotiator at Abbott & Abbott says properties are “flying off the shelf” in the East Sussex destination, with a changing demographic thought to be behind the increasing demand for family homes in the area.

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High Peak, Derbyshire

This sought after spot in the High Peak district of the Derbyshire Dales has seen plenty of new homes come onto the market in 2022.

Towns such as Buxton and Glossop have become property hotspots for eager buyers, with the average house fetching £278,672 on the market.

Small houses are dominating the seller market, with many local residents looking to up-size to more rural areas.

Chris Swales, partner of Jordan Fishwick estate agents in Glossop believes that the trend comes as more people continue to work from home.

He told Rightmove: “People are not having to commute to Manchester every day anymore, and they want to get out into the countryside.”

What does the property market look like for the rest of the year?

With prices continuing to rise after an impressive year of growth in 2021, there are mixed opinions on the year ahead.

Speaking exclusively to Express.co.uk, Stuart Law, CEO, Assetz Group said: “Many people are predicting a slowdown in house price growth, but I really think we’re in for a sustained period of rising house prices through 2022.

“This will be concerning for many low-income buyers, especially at a time where household incomes are being squeezed.

“While you can’t establish meaningful trends from individual monthly figures, I expect house prices to rise by eight to 10 percent this year driven by high construction costs, record low housing stock levels, and strong demand from buyers re-evaluating what they want from their home in a world shaped by the pandemic.”

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