Revealed: The UK’s top 10 hottest property markets where house prices rise fastest
City A.M. can reveal this morning what are the property hotspots across Britain at the moment, with Toxteth in Liverpool being identified as the number one market, with a 20 per cent increase in the average price tag for a home over the past year.
Accrington in Lancashire, Retford in Nottinghamshire and Heywood in Greater Manchester closely follow with a 19 per cent increase in average asking prices, according to Rightmove.
Five of the top 10 hotspots are in the North West of England, a region where asking prices have risen by 8% on average since September 2020.
Since the start of last year, nearly three-quarters (71 per cent) of areas across Britain have hit record asking prices, Rightmove said.
The average asking price for a home in Toxteth is £151,958, which still puts it in the top 10% of the cheapest areas across Britain. The average price tag there has however jumped from £126,806 in September 2020.
Across Britain, the average asking price stands at a record £338,462, up by 5.8 per cent compared with September 2020, Rightmove said.
Tim Bannister, Rightmove’s director of property data, said: “There’s been significant growth across so many areas of Great Britain over the past year, which is reflected in the new price hotspots, where six different regions appear in the top 10.
“The number of homes for sale is at a record low, and buyer demand remains high. This competition for properties is supporting price growth.”
Warren Matthews, an agent at James Kristian Estate Agents in Liverpool, said: “Due to the improvements in the area, places like Toxteth have grown in popularity, and we’re now seeing properties appeal to a wide range of buyers, from first-time, next time and investors.
“This has pushed demand up which has therefore significantly increased prices in the area, and we’re still seeing high levels of buyer interest as we approach the final months of the year.”
Here are average asking prices in September 2021 and the percentage increase for the top 10 hotspots, according to Rightmove:
1. Toxteth, Liverpool, Merseyside, £151,958, 20 per cent
2. Accrington, Lancashire, £139,220, 19 per cent
3. Retford, Nottinghamshire, £210,761, 19 per cent
4. Heywood, Greater Manchester, £194,634, 19 per cent
5. Brixham, Devon, £318,859, 18 per cent
6. Crowborough, East Sussex, £501,537, 18 per cent
7. Aberdare, Rhondda Cynon Taf, £165,322, 18 per cent
8. Moortown, Leeds, West Yorkshire, £327,804, 17 per cent
9. Penwortham, Preston, Lancashire, £251,478, 17 per cent
10. Great Sankey, Warrington, Cheshire, £270,621, 16 per cent