UK house prices have seen the biggest growth in one particular area of the country, which is located in the north.
Burnley, a town in the north west of England, has seen the most significant rise in house prices per square metre, according to new data.
Homes in this part of the country have increased 24 per cent in the past year alone.
Shortly behind it comes Market Harborough in the East Midlands. House prices in this area have grown by 20 per cent in the same period, according to a press release from Halifax.
This puts these areas far ahead of the rest of the country, where the average house price rise is just three per cent.
Other areas of the country with significant increases include Linlithgow in Scotland and Neath in Wales.
Both locations experienced a 16 per cent growth in house prices in the last year.
Meanwhile, the lowest house price growth across the country was in Greater London.
The capital grew less than one per cent in house prices per square metre.
However, house prices in Greater London are still on average worth £2,788 per square metre more compared to the rest of the country.
Across London’s 31 boroughs, just 11 boroughs increased in price per square metre.
The largest London house price rises were seen in Kingston upon Thames and Newham (both four per cent).
Meanwhile, 15 London boroughs experienced a decrease in average house prices of between one and three per cent.
Russell Galley, Managing Director, Halifax, explained the trends, arguing that areas outside of London would “catch up” with the capital.
It is no surprise that Greater London is substantially more expensive than anywhere else in the country.
“Should recent trends persist, prices in the capital will continue to tread water whilst the rest of the country slowly plays catch up.
“While cheaper locations such as Scotland and Wales have started to increase more rapidly over the last 12 months, the prices per square metre in Scotland and Wales mean home buyers can get a lot of house for their money in these regions compared to Southern England.”
Recently, it was reported that properties in Manchester were the best for investing in for buy-to-let.
Houses in Manchester are among the best to invest in for buy-to-let landlords, experts have said.
According to the latest Hometrack UK Cities House Price Index Manchester is top of the table when it comes to returns.
