London and The South East Saw Strongest Price Rises in 2011

Woking in Surrey recorded the biggest rise in house prices among major UK towns and cities in 2011, according to new research by the Halifax.

Based on the Halifax’s own house price data, the average selling price in Woking, a commuter town within easy reach of central London by rail, was 16% higher than in the previous year. Prices increased from £257,590 in 2010 to £299,654 in 2011.

Falkirk in Scotland experienced the second biggest rise in house prices with a 12% gain. Like Woking, Falkirk is within easy commuting distance of major commercial centres, lying almost equidistant between Edinburgh and Glasgow. The town also has relatively low average property prices, making it more affordable than many other areas close to Scotland’s two largest cities.

Towns in London and the South East accounted for nine of the 20 towns recording the strongest price rises in 2011. Overall, 28% of the towns surveyed saw some increase in prices over the year.

The majority of worst performers were outside southern England. Kettering in Northamptonshire and Dunfermline in Scotland experienced the largest falls in average selling prices in 2011, both recording declines of 15%.

Nine of the ten towns that saw the biggest declines in property values are outside southern England, reflecting the generally weaker performance of the housing market outside the south.