Homeowners in some of England’s most historic towns and cities have seen the value of their properties soar over the past year, an interactive study revealed today.
Picturesque locations from Tunbridge Wells to Windsor and St Albans to Cambridge were among the best ten performing areas for house prices up to this October.
But many Londoners saw big losses on the value of their homes – with Kensington and Chelsea, the City of London and Hammersmith and Fulham worst affected.
Homeowners across the UK saw their properties rise in value by an average of nearly £10,000 in the last year, according to the report by estate agent Purplebricks.
In the 12 months from October 2023, the average home increased by 3.4 per cent to £292,059 – including a small rise of 0.2 per cent from this September to October.
The average home in Tunbridge Wells has increased by 8 per cent or £38,835 in the past year, based on data from the Office for National Statistics (ONS).
A fair portion of the gain for properties in the leafy Kent commuter town has come from a monthly rise from this September to October of 5 per cent or £25,410.
Windsor and Maidenhead saw its properties rise by 6 per cent or £36,317 in the last year, while Cambridge was up by the same percentage annually or £32,441.
A six-bedroom detached house on sale in Tewkesbury for £785,000. The Gloucestershire town has seen house prices increase more over the past year than any other location across England
A three-bedroom semi-detached house in Tunbridge Wells is up for £575,000. The average home in the leafy Kent commuter town has increased by 8 per cent or £38,835 in the past year
A one-bedroom ground floor flat in St Albans, Hertfordshire, in the above building is on for £350,000. The town has seen house prices rise 6 per cent or £36,699 in the past year
This three-bedroom townhouse in Windsor, Berkshire, is available for £700,000. The area has also seen one of the best house price growths in England over the past year
But homeowners living in the Gloucestershire market town of Tewkesbury were the biggest winners in England after seeing a 13 per cent or £46,424 annual increase.Â
Overall, homeowners in England saw an annual 3 per cent rise, increasing the price of an average property to £308,781.
Wales house prices increased by 4 per cent annually and 2 per cent over the last month. An average Welsh property now costs £222,316.
Homes in Scotland increased by 5.5 per cent year-on-year, with homeowners in the Shetland Islands once again the UK’s biggest winners as they increased 28 per cent or £63,616 in a year.
Scottish homes now cost an average of £197,451, slightly down on last month despite the upward trend over the past year.Â
In London, the picture is mixed – with Kensington and Chelsea properties falling by 4 per cent or £48,056 over the last month and an eye-watering 20 per cent or £226,869 over the last year.
| Area | Percentage increase YOY | Money gained |
|---|---|---|
| 1. Shetland Islands | 28% | +£63,616 |
| 2.Tewkesbury | 13% | +£46,424 |
| 3. Tunbridge Wells | 8% | +£38,835 |
| 4. Tower Hamlets | 8% | +£38,625 |
| 5. St Albans | 6% | +£36,699 |
| 6. Windsor and Maidenhead | 6% | +£36,317 |
| 7. Cambridge | 6% | +£32,441 |
| 8. Cherwell | 9% | +£31,954 |
| 9. Three Rivers | 5% | +£31,871 |
| 10. Greenwich | 7% | +£30,830 |
| Area | Percentage decrease YOY | Money lost |
|---|---|---|
| 1. Kensington and Chelsea | -20% | -£226,869 |
| 2. City of London | -18% | -£131,166 |
| 3. Hammersmith and Fulham | -11% | -£77,717 |
| 4. Camden | -6% | -£49,446 |
| 5. City of Westminster | -4% | -£42,230 |
| 6. Islington | -5% | -£33,077 |
| 7. Wandsworth | -4% | -£24,868 |
| 8. North Devon | -8% | -£23,258 |
| 9. Inner London | -3% | -£17,243 |
| 10. Worthing | -4% | -£14,116 |
| Area | Percentage increase MOM | Money gained |
|---|---|---|
| 1. Tunbridge Wells | 5% | +£25,410 |
| 2. Adur | 5% | +£17,427 |
| 3. Tewkesbury | 3% | +£11,790 |
| 4. Hackney | 2% | +£10,992 |
| 5. Belfast | 6% | +£9,755 |
| 6. Bridgend | 4% | +£9,094 |
| 7. Brent | 2% | +£8,859 |
| 8. East Cambridgeshire | 3% | +£8,741 |
| 9. West Suffolk | 3% | +£8,353 |
| 10. Shetland Islands | 4% | +£8,347 |
| Area | Percentage decrease MOM | Money lost |
|---|---|---|
| 1. Kensington and Chelsea | -4% | -£48,056 |
| 2. Camden | -4% | -£27,913 |
| 3. Hammersmith and Fulham | -3% | -£20,725 |
| 4. Richmond upon Thames | -2% | -£16,988 |
| 5. Lambeth | -2% | -£15,078 |
| 6. Ealing | -3% | -£14,086 |
| 7. Wandsworth | -2% | -£13,950 |
| 8. Runnymede | -3% | -£12,905 |
| 9. Forest of Dean | -4% | -£12,155 |
| 10. Broxbourne | -3% | -£10,087 |
City of London property owners’ homes have dropped 18.3 per cent in a year, losing more than £130,000 in value. And those in Hammersmith and Fulham are down 11 per cent or £77,717 in a year.
| Area | Percentage decrease YOY | Money lost |
|---|---|---|
| 1. Kensington and Chelsea | -20% | -£226,869 |
| 2. City of London | -18% | -£131,166 |
| 3. Hammersmith and Fulham | -11% | -£77,717 |
| 4. Camden | -6% | -£49,446 |
| 5. City of Westminster | -4% | -£42,230 |
| 6. Islington | -5% | -£33,077 |
| 7. Wandsworth | -4% | -£24,868 |
| 8. Richmond upon Thames | -2% | -£13,295 |
| 9. Lambeth | -2% | -£11,847 |
| 10. Southwark | -2% | -£8,581 |
But Tower Hamlets saw the fourth biggest rise of any location in the UK over the past year, up 8 per cent to £38,625. And Greenwich had the tenth best increase nationally, up 7 per cent to £30,830.
Properties in London lost an average of 1.4 per cent of their value over the past year, a decrease in value of £7,274. The average price in London now stands at £519,579.
Nick Gunga, managing director of Purplebricks Estate Agence, told MailOnline: ‘This increase following last month’s slow down should be seen as a real positive.
‘A majority of the country has seen their property increase in price with an impressive increase year on year.
‘Overall, the trajectory for property in the United Kingdom is on the incline with mortgage rates falling and it is clear that the new Government is setting their own agenda through their first few months in office.
‘There will be no doubt that many homeowners will enjoy reaping the rewards of a strengthened housing market which continues to trend in the right direction.’