According to the new research, conducted by online trading platform, CMC Markets, Waltham Forest in London has seen the biggest return on investment in property in the UK, with a 113.6% increase in property price since 2012. Currently, the average house price in Waltham Forest is £484,229.52 whereas a decade ago, the average cost was £226,741.68.
The area with the second highest increase in property prices is Thanet in Kent. House prices in Thanet averaged at £142,273.02 in 2012 and have risen to £301,510.06 as of this year. This means that there has been a 111.9% rise in prices.
Barking and Dagenham is the area with the third highest rise in property in the UK, therefore having the third best return on investment. There has been a 105.9% rise in house prices in the London borough in the past decade. In 2012, the average house price in Barking and Dagenham was £165,049.09 whereas, in 2022, the average house price now stands at £340,135.34 according to the ONS data.
Hastings in East Sussex places fourth. House prices in Hastings have skyrocketed 96.8% since 2012 when house prices were at an average of £137,735.62 compared to today’s average price of £271,106.08.
Another London borough rounds out the top five with Hackney seeing a 96.5% rise in house prices. House prices in Hackney have risen from £315,619.92 to £620,147.39 in the past ten years, leading to its status as the area with the fifth-highest return on investment in property.
At the other end of the scale, the City of Aberdeen is the UK area that has seen the lowest return on investment in property, being the only area where house prices have actually decreased. In 2012, the average house price in the City of Aberdeen was £160,525.51 but the average price has now decreased by 9.9% in the past ten years, with the average price costing £144,614.52 in 2022.
The UK area with the second lowest increase in house prices is Inverclyde. House prices in Inverclyde averaged at £100,389.36 in 2012 and have risen to £115,244.09 as of this year. This means that there has been a 14.8% rise in prices – the second lowest number of any local authority analysed.
Aberdeenshire (the surrounding area of the city) has had the third-lowest increase in property prices in the last decade. There has been a 15.4% rise in house prices in the Scottish area in the past decade. In 2012, the average house price in Aberdeenshire was £173,885.79 whereas, in 2022, the average house price now stands at £200,590.18 according to the ONS data.
County Durham places fourth. House prices in County Durham have only risen by 25.1% since 2012 when house prices were at an average of £98,549.76 compared to today’s average price of £123,308.60.
Middlesbrough rounds out the bottom five with Middlesbrough seeing a 25.7% rise in house prices. House prices in Middlesbrough have risen from £108,284.80 to £136,076.61 in the past ten years, leading to its status as the area with the fifth-lowest return on investment in property.
