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Taunton has become a house price hotspot

The average house price rose to over £300,000

Author: Vicky Shaw, PA Published 30th Dec 2021
Last updated 30th Dec 2021

Over the past year, average house prices in Taunton have increased by more than a fifth (21.8%), compared with a 6.2% increase across the UK generally, Halifax said.

In cash terms, the average house price in Taunton, which has a range of independent shops and is surrounded by attractive countryside including the Quantock Hills, rose by £56,546 to £315,759.

With its good links to the M4 and rural surroundings, the Wiltshire town of Chippenham has also benefited from the "race for space" among buyers, with the biggest increase in house prices in cash terms.

Prices there rose to an average of £381,181 - marking an increase of £58,322 since 2020.

Nowhere in London appeared in the hotspots list. The area of the capital with the highest growth was Enfield, where the average house price increased by 6.8% to £512,135.

Westminster in central London recorded the biggest fall of any area, with average house prices there down by 6.9%.

Russell Galley, managing director, Halifax, said: "As the county town of Somerset, this year's house price winner, Taunton, has a lot to offer home-buyers with its high quality of life and great transport links to major towns and cities across the South West.

"Like Taunton, many of the areas that saw the biggest house price growth over the last year enjoy a combination of greater affordability and space compared to nearby cities.

"Places like Bolton, Newark, Bradford and Hamilton - where there are a broad range of property types and settings - all offer significantly better value than their more metropolitan neighbours."

Mr Galley added: "This is perhaps most clearly shown in the UK's capital. It is rare that no London boroughs appear amongst the areas of highest house price growth but that is the case in 2021.

"This shift echoes what we have seen from home-buyers over the last year - less focus on major cities and more demand in the suburbs and further afield."

Here are the top 10 hotspots with the highest growth in the average house price over the past year:

The data shows the average house price now and the one-year change in cash and percentage terms, according to Halifax.

  1. Taunton, South West, £315,759, £56,546, 21.8%
  2. Newark, East Midlands, £280,934, £46,732, 20.0%
  3. Rochdale, North West, £206,098, £32,123, 18.5%
  4. Chippenham, South West, £381,181, £58,322, 18.1%
  5. Braintree, South East, £356,216, £54,236, 18.0%
  6. Widnes, North West, £222,876, £33,628, 17.8%
  7. Motherwell, Scotland, £177,118, £26,103, 17.3%
  8. Bolton, North West, £212,671, £30,818, 16.9%
  9. Hereford, West Midlands, £306,872, £44,336, 16.9%
  10. Walsall, West Midlands, £230,972, £31,614, 15.9%

And here are the 10 coldspots with the lowest growth in average house prices, according to Halifax's figures:

  1. Westminster, London, £738,088, minus £54,809, minus 6.9%
  2. Airdrie, Scotland, £150,874, minus £6,023, minus 3.8%
  3. Hammersmith and Fulham, London, £716,541, minus £24,525, minus 3.3%
  4. Coatbridge, Scotland, £145,880, minus £3,435, minus 2.3%
  5. Islington, London, £716,554, minus £11,368, minus 1.6%
  6. Kirkcaldy, Scotland, £157,663, £1,774, 1.1%
  7. Oxford, South East, £482,893, £5,808, 1.2%
  8. Croydon, London, £436,441, £6,502, 1.5%
  9. Inverness, Scotland, £198,672, £3,137, 1.6%
  10. Cambridge, East Anglia, £473,790, £8,600, 1.8%

Here are price changes in Scotland, Wales, Northern Ireland and in England's regions in 2021 as well as across the UK:

The data shows the average price now followed by the one-year increase or decrease in cash and percentage terms, according to Halifax.

  • UK average, £323,355, £18,757, 6.2%
  • Wales, £231,134, £28,454, 14.0%
  • Scotland, £207,778, £16,761, 8.8%
  • Northern Ireland, £188,892, £13,364, 7.6%
  • Yorkshire and the Humber, £231,553, £21,695, 10.3%
  • East Midlands, £265,828, £24,375, 10.1%
  • East Anglia, £322,604, £27,790, 9.4%
  • North West, £242,286, £18,373, 8.2%
  • South West, £329,110, £22,608, 7.4%
  • West Midlands, £266,659, £15,185, 6.0%
  • North East, £195,515, £10,837, 5.9%
  • South East, £420,042, £11,651, 2.9%
  • London, £554,684, minus £3,588, minus 0.6%

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