With the end of the year on the horizon, home services marketplace Plentific has released it’s 2016 Property Price Index. This gives an overview of how Britain’s house prices have performed during the last 12 months and has revealed some surprising results.
Property price rises
The study has indicated the top ten best and worst performing regions in terms of property price fluctuations.
Aylesbury led the way, with the average price of a home rising by an eye-watering 21.5% over the course of the year.
It appears that prices in new commuters hotspots have risen substantially, with Aylesbury thriving as a result. In fact, the top-ten is dominated by regions in London and the South East.
Greenwich (+19.91%), Hammersmith (+17.46%) and Chelsea (+18%) all represented the top-ten in London. Meanwhile, St Albans (+17.28), Sutton (+17.39%), Reading (+16.9%) and Brentwood (+19.43%) are other commuter regions that saw a surge in values.
The full top ten list is:
| Town | Dec 2015 Average Sold Price | Current average value (2016) | Change % | Change £ |
| Aylesbury | £314,236 | £381,787 | 21.50% | £67,551 |
| Greenwich | £509,710 | £611,169 | 19.91% | £101,459 |
| Ipswich | £221,805 | £265,267 | 19.59% | £43,462 |
| Brentwood | £447,220 | £534,094 | 19.43% | £86,874 |
| Chelsea | £1,836,338 | £2,166,805 | 18.00% | £330,467 |
| Hammersmith | £875,132 | £1,027,929 | 17.46% | £152,797 |
| Sutton | £396,757 | £465,750 | 17.39% | £68,993 |
| St Albans | £511,418 | £599,772 | 17.28% | £88,354 |
| Reading | £380,989 | £445,375 | 16.90% | £64,386 |
| Wirral | £197,244 | £229,950 | 16.58% | £32,706 |
Which regions have seen the highest property price rises in 2016?
North/South divide
The Index reveals a distinct North/South divide, with only the Wirral representing the North in the top-ten locations for house price growth.
However, there are a number of northern regions among the worst performers, including Rotherham (+3.48%), Salford (+3.08%) and Bradford (+2.99%).
Bottom of the list though is Westminster, with values actually falling by 3.67% over the period. Demand in prime central London has seen substantial falls, with Westminster taking the brunt of the lower interest.
The worst performing regions were found to be:
| Town | Dec 2015 Average Sold Price | Current average value (2016) | Change % | Change £ |
| Highland | £166,542 | £174,898 | 5.02% | £8,356 |
| Stoke-on-Trent | £137,048 | £143,924 | 5.02% | £6,876 |
| Newquay | £252,426 | £262,010 | 3.80% | £9,584 |
| Rotherham | £142,032 | £146,975 | 3.48% | £4,943 |
| Hackney | £580,438 | £599,139 | 3.22% | £18,701 |
| Salford | £150,820 | £155,462 | 3.08% | £4,642 |
| Bradford | £124,921 | £128,655 | 2.99% | £3,734 |
| St Ives | £333,669 | £334,376 | 0.21% | £707 |
| Middlesbrough | £145,812 | £143,448 | -1.62% | -£2,364 |
| Westminster | £1,247,719 | £1,201,932 | -3.67% | -£45,78 |
Stephen Jury, spokesperson for Plentific, noted: ‘Our report shows the winners and losers in property this year. More importantly, it gives valuable insight to those wanting to get onto the property ladder or invest in property in areas with good potential for price increases.’[1]
‘We have found a fifth of homeowners carry out home improvements to increase the value of their property. Buying a renovating a fixer-upper in the right area will increase the value significantly, so this is worth considering when hunting for property,’ he added.’[1]
[1] http://www.propertyreporter.co.uk/property/2016-property-price-index-reveals-whats-hot-and-whats-not.html
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