8:03 AM, 26th October 2022, About 11 months ago
The City of Aberdeen has seen the worst return on investment in the UK for property investors, being the only area to see a fall in prices over the past 10 years, a survey reveals.
According to the online trading platform, CMC Markets, Inverclyde and outer Aberdeenshire are the second and third worst areas to invest in property.
However, Waltham Forest in London has seen the biggest increase in property prices at 113.6% and was, therefore, the best area to invest in property.
The study 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 to provide the highest return on investment.
Aberdeen is the area that has seen the lowest return on investment in property because it is the only area where house prices have fallen.
In 2012, the average house price in Aberdeen was £160,525 but the average price has now decreased by 9.9% in the past 10 years, with the average price now at £144,614.
House prices in Inverclyde averaged at £100,389 in 2012 and have risen to £115,244 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 the third lowest increase in property prices in the last decade. There has been a 15.4% rise in house prices there.
In 2012, the average house price in Aberdeenshire was £173,885 whereas in 2022, the average house price was £200,590, according to the ONS data.
County Durham is fourth as house prices have only risen by 25.1% since 2012, when they were at an average of £98,549, compared to today’s average price of £123,308.
Middlesbrough rounds out the bottom five with a 25.7% rise in house prices. They have risen from £108,284 to £136,076 in the past 10 years.
The top 10 UK areas with the lowest increases in house prices are completed by Allerdale, Stockton-on-Tees, Angus, Carlisle and Preston.
Barking and Dagenham have the third highest rise in property prices,
Hastings in East Sussex is in fourth place, and Hackney is fifth.
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