New data from Zoopla reveals a 74% increase in UK house prices since 2005, raising average values from £113,900 to £268,200. London sees the most significant surge, with prices more than doubling. Regions like the South East and East England followed closely with rises of 87%. Meanwhile, the North East, Blackpool, and Sunderland have experienced much smaller increases, leading to concerns that locals may be priced out of homeownership. The disparities in property value growth highlight a growing issue of housing affordability across the UK.
According to property website Zoopla, house prices have leapt by an average of 74 per cent since 2005, adding more than 150,000 to the average property value.
The largest property price increases have been in London, with the cost of homes in the capital more than doubling since 2005, according to Zoopla.
However, sharper rises in some areas could mean that people are priced out of buying a home in the area they grew up in.
By contrast, house prices in North East England have risen by 39 per cent during the same period. In Blackpool, average house prices have increased by 26 per cent.
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