New research shows the UK areas with the highest increase in property prices in the past decade with Waltham Forest in London taking the top spot, with a house price increase of 113.6% over the last ten years.
The study conducted by online trading platform, CMC Markets, analysed house price data from the Office for National Statistics (ONS) for each local authority in the UK between 2012 and 2022 to discover which area saw the highest increase in house prices and therefore provides the highest return on investment.
The analysis revealed that Waltham Forest in London has the biggest return on investment for property in the UK, with a 113.6% increase in house prices 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.
