Property hotspots in the midlands and north of England have recorded double-digit house price growth in the last year, far outpacing their southern counterparts.
House prices across the UK were up 6.4 per cent in the 12 months to March, the latest official data reveals, which was the highest annual jump since December 2022.
But according to analysis of the Office for National Statistics data by estate agent Hamptons, the increases are being driven by areas north of Birmingham.
Hamptons compared the average price of sold property between January and March 2024, with average sold prices for the same three months this year.
The local area that saw the biggest price spike was Blackburn with Darwen in Lancashire.
Steep rise: House prices in Blackburn with Darwen have gone up by 14.4% in a year
The average home there has risen by a whopping 14.4 per cent year-on-year, going from £138,290 in 2024 to £158,170 at the start of this year, representing a £20,000 increase.
The borough can be found just east of Preston in Lancashire.
Thayf Ullah, assistant branch manager at Bridgfords estate agents in Blackburn says that Blackburn and Darwen both have active property markets and are popular with a range of buyers.
He added: ‘Their close proximity to Manchester and Bolton mean that they are really popular, more affordable options for people who want to live close to the big cities.
‘Ribble Valley is also another great option nearby. Darwen has also seen a big improvement in recent years, and become a very appealing place to buy.’
Homeowners in North East Derbyshire have seen prices rise by 13.4 per cent year-on-year.
The typical property in the rural district, which includes towns on the outskirts of Chesterfield such Dronfield and Clay Cross, is now selling for £252,690, up from £222,900.
The area also offers short commuting distances to cities such as Sheffield, Derby and Nottingham.
Third among the biggest price risers is the coastal town of Hartlepool in County Durham. There, prices rose by 11.3 per cent on average from £122,020 last year to £135,760 today.
Marc Hindson, senior branch manager at Manners & Harrison estate agents in Hartlepool says the town has a very buoyant market at the moment.
‘There is loads of activity from both buyers and sellers, and we’re finding that buyers are really serious, making good offers to secure a home which means less negotiation on both sides,’ said Hindson.
‘This is quite an affordable area, and we have a lot of investors here as well, due to the active rental market and good returns they can achieve.
‘There are also lots of new developments and new infrastructure popping up, adding to the appeal and making Hartlepool a very attractive place to buy a property.’
Some major cities have also recorded double digit house price growth, including Liverpool and Newcastle.
The average house price in Liverpool has increased 10.5 per cent year-on-year. The typical property in the city now sells for £176,080 up from £159,330.
Amber Farrington, branch manager at Entwistle Green estate agency in Liverpool says Liverpool has become a hotspot for buy-to-let investors.
‘The market in Liverpool is good – it’s a great place to buy and invest, and high demand is pushing up prices,’ said Farrington.
‘We have lots of UK and overseas investors who want to invest outside of London, and because Liverpool is more affordable it’s a popular place for those people to purchase buy-to-let property.’
The average property price in Liverpool has increased 10.5 per cent year-on-year
Newcastle Upon Tyne has also seen its house prices rise 10.2 per cent on average. Typical homes in the city are selling for £205,660.
James Mansfield, senior branch manager at Bridgfords estate agents in Newcastle said: ‘As a whole, Newcastle has a lot to offer with lots going on in the city centre, some really sought-after suburbs and lovely coastal areas.
‘We also have the Metrocentre, great schools and lovely architecture.
‘The market is very active, particularly in suburbs like Jesmond and Gosforth where there’s strong demand for property, and Tynemouth and Whitley Bay on the coast are also very popular, with a big mix of buyers from first-time buyers, to families and downsizers too.’
