Homeowners in the Easton area of Bristol have witnessed the most substantial increase in house prices in the United Kingdom over the past decade, with a staggering rise of 120%. The average Easton asking price now sits at £283,397, an almost £155,000 rise since 2010. In 2019, Easton was selected as Bristol’s “coolest” neighborhood by Time Out magazine. The award serves to recognize the region’s incredible recent boom in popularity.
In comparison, Linthorpe in Middlesborough has had a much harder time. Over the last decade, home prices there have dropped by 12%, the second steepest drop in the region. Nairn in Scotland has the honor of having the biggest national drop in housing prices. These opposing trends highlight the property market’s divergent picture across the rest of the UK.
The national average asking price for homes has jumped, increasing from 226,950 (£226,950) in September 2010 to £319,996 today. This rise of £93,046 is representative of a national average increase of 41% over the past 10 years.
Swanscombe, close to Dartford in Kent, has seen an extraordinary 106% increase in house prices. The value of homes in the surrounding area has since shot up to an average of £326,106. On that list is Tilbury in Essex, which has seen house prices almost double (£128,352 on average now). Walthamstow home owners have enjoyed a further windfall with their property values having increased by an average of 117% since September 2010.
Tim Bannister, Rightmove’s director of property data Groves illustrated the scale of the demand for property in Bristol.
“Demand for property in Bristol is exceptionally strong right now. Average asking prices across Bristol as a whole are up by 60% over the past decade and it’s one of the UK’s most thriving regional centres.” – Tim Bannister of Rightmove
Finally, Bannister was particularly proud that Bristol offers a wide variety of housing types. This, along with its well-known reputation as a tech capital, has made the city rank particularly attractive to buyers.
“Bristol has a highly diverse mix of housing stock and is a city where a number of tech companies have based themselves, making it a very attractive place to move to for many buyers.” – Tim Bannister of Rightmove