Woking house prices 'up 16% in a year'

Tuesday, 03 January 2012 10:49

We have serious property envy of homeowners in Woking this morning, as a report comparing 130 towns found the Surrey town was the top performer house-price wise in 2011. The average price in Woking was 16% higher than in the previous year.

The Halifax Town House Price Survey of the UK is compiled using information sourced from the bank's own extensive housing statistics database and surveys 130 post-towns across the UK.

The results show that the average selling price in Woking increased from £257,590 in 2010 to £299,654 in 20111.

It seems proximity to large cities is a factor. Woking is a popular commuter town within easy reach of central London by rail. Falkirk in Scotland experienced the second biggest rise in house prices with a 12% gain. It is within commuting distance of Glasgow. 

Martin Ellis, housing economist at Halifax, said: “The majority of towns that have fared worst in house price terms are outside southern England where economic conditions have tended to be less favourable.

"Uncertainty around the economy is unusually high as we go into the New Year. This makes it especially difficult to predict the course of house prices over the next 12 months.” 

Broad stability in house prices during 2012

Low interest rates and high demand will keep house prices stable in 2012, property experts at Halifax believe, despite economic uncertainty. While stability is a good thing, the market 'lacks direction' and a price increase beyond 2% is unlikely.

UK house prices fall at their fastest rate in 16 months

There was a 2.8 per cent fall in Britain's house prices last month compared with the previous February, new figures show. According to the Halifax index, the average UK property now costs around £162,657.

House prices fall again at the end of 2011

The average price of a new home is now £195,166, 9.26% less than at the peak of the market in October 2007, when the average price was £215,089. 2011 ended down 1% month-on-month, 0.1% year-on-year, marking the end of a stable yet disappointing year.

Latest house prices show further North/South divide

The north/south divide in the property market has widened yet again, with prestige property in the south improving in value, while homeowners in the north struggle to sell. The average home in London is now worth £416,890, up £9,283.

House prices to remain steady says expert

UK house prices have recorded a slight rise for May for the second consecutive month. According to the Halifax House Price Index prices were 0.8 per cent higher in May compared to the prior three months.

 

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