Woking And Falkirk Outperform London In Biggest House-Price Rises Of 2011

Why It's Better To Live In Falkirk Than London

The commuter belt areas of Woking in Surrey and Falkirk in central Scotland are among 11 towns which outperformed London in a list of the biggest house-price percentage rises over the year.

With its close access to London, Woking was named the UK's best price performer in the Halifax Town House Price Survey of the UK, with prices typically rising by 16% over the year to average £299,654.

In contrast, Kettering in Northamptonshire and Dunfermline in Fife recorded declines of 15% to average £140,258 and £111,282

respectively.

Hartlepool in the North East followed closely behind with a 14% drop to average £108,976, followed by Ayr in South Ayrshire which recorded a 13% fall, leaving the typical selling price at £125,830.

Halifax said the negative impact on house prices is being felt in areas outside southern England which rely on public sector jobs and are enduring a weaker economy.

Overall, 28% of the towns and cities recorded an increase in price over the year, with London and the South East accounting for nine out of the 20 areas recording the strongest rises.

But across the UK generally, house prices went down by 4% over the year to average £172,400.

Falkirk was second on the list of house price rises, with a 12% gain to make the average house worth £126,548.

Like Woking, Falkirk is within easy commuting distance of major commercial centres, lying between Edinburgh and Glasgow.

Halifax said Falkirk's relatively low average property price make it more affordable than many other areas close to Scotland's two largest cities.

Martin Ellis, housing economist at Halifax, said: "Whilst house prices nationally have been largely unchanged in recent months, there have been significant differences in performance in towns across the country.

"The two towns recording the biggest rises are both within easy commuting distance of major commercial centres.

"In contrast, the majority of towns that have fared worst in house price terms are outside southern England where economic conditions have tended to be less favourable."

The London market, which enjoys strong interest from overseas buyers, has held up over the year while much of the UK has seen a slide.

But in percentage terms, prices have risen by 5% to average £333,106, meaning the UK capital only came in 12th place on the list. It was beaten by Crewe, Rugby, Perth, Bridgend, Enfield and Worthing which all enjoyed a larger 6% rise in the 12 months to December.

Ipswich and Inverness both saw even bigger rises of 9%, while Portsmouth had an 8% boost over 2011.

Mr Ellis continued: "Uncertainty around the economy is unusually high as we go into the new year. This makes it especially difficult to predict the course of house prices over the next 12 months.

"Overall, we expect broad stability in house prices nationally during 2012. Nonetheless, we expect some variation in house price movements across the country.

"Prices are likely to be strongest in London and the South East, as these regions perform better economically. House prices outside southern England are expected to be constrained by these areas' generally weaker economic performance and greater dependence on public sector employment."

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