Property values increased by 105 per cent over the last decade, new figures have suggested.
The latest House Price Index from Halifax revealed that the average cost of a property rose from approximately £81,000 in the final quarter of 1999 to around £167,000 in the corresponding period ten years later.
Despite a decline of more than one-fifth between mid-2007 and mid-2009, values of property have increased more in the noughties than at any other point in the last half-century (inflation adjusted).
Martin Ellis, a housing economist at Halifax, said: "The majority of towns that experienced the strongest price growth began the decade with lower than average property prices, which provided the platform for bigger price gains.
"Seaside towns fared particularly well as the attraction of having a home on the coast helped to boost demand."
Redruth in Cornwall witnessed the highest increase, with the average price of a property jumping by as much as 207 per cent during the 2000s.
See Also: Property News (6699)
Date Published: 27 January 2010
Related News
