Unexpected hotspots drive house price growth

Some areas of the UK have outperformed the wider market, showing strong house price growth, according to new figures.

Research by eXp estate agents reveals that, despite periods of uncertainty surrounding the Autumn Budget, the housing market has remained resilient, with certain areas experiencing notable price increases.

According to the data, the average UK house price has risen by 1.7% annually.

Many of the top performers are not the usual ‘hotspots’ we associate with rapid price rises

The research reveals North East Derbyshire ranks as the strongest-performing housing market over the last year, where average prices have climbed by 10.5%. Melton follows closely at 10.4%, ahead of Oldham, where values have risen by 10.3%.

East Cambridgeshire and Argyll and Bute have also seen prices climb by more than 9%. Hartlepool completes the top ten with an annual increase of 9.0%.

Adam Day, head of eXp UK and Europe, says the places with the strongest house price growth are not the usual hotspots.

He explains: “While the national picture shows a steady but relatively modest rate of appreciation, it’s clear that there are still pockets of the market delivering incredibly strong growth, despite the wider market uncertainty that has enveloped the UK over the last year.

“What is particularly interesting is that many of the top performers are not the usual ‘hotspots’ we associate with rapid price rises and this underlines the ever-evolving diversity of the UK housing market.

“Even in a year shaped by uncertainty, local fundamentals continue to drive growth and for both buyers and sellers, understanding their local market dynamic is essential, because the national average only tells a fraction of the story.”