Huddersfield has taken a top 10 slot among UK towns and cities for the fastest-growing house prices.
The latest survey by mortgage lender Halifax placed Huddersfield eighth in the table for places with the biggest rise in average house prices during 2017. The average price of a property rose by 9.3% or £15,981 to stand at £186,988, according to the survey.
By contrast, neighbouring Leeds, Bradford and Wakefield were all among towns and cities with the biggest fall in house prices last year. House prices fell by 2.9% in Wakefield and by 0.4% in Leeds and Bradford.
Cheltenham took top spot for the biggest rise in house prices with the Gloucestershire town seeing prices rise by 13% to an average of £313,150. Bournemouth saw the second-biggest rise, with prices climbing by an average of 11.7%, while Brighton came third (11.4%).
While 15 of the top 20 were in London and southern England, Huddersfield flew for flag for the provinces along with Nottingham (8.9%), Lincoln (8.4%), Stockport (8.2%) and Swansea (7.7%).
Perth in Scotland experienced the biggest fall in prices, dropping 5.3% to an average of £180,687.
The average increase in house prices across the UK was 2.7%, according to the Halifax, which bases the figures on its own mortgage data.
Paul Keighley, of estate agency Bramleys in Huddersfield, said Huddersfield’s top 10 position came as no surprise to him. “Prices are going up,” he said. “While ever demand is outstripping supply of stock that will remain the case. It’s supply and demand.”
He said uncertainty over Brexit was a factor in the lack of houses coming onto the market, saying: “There needs to be more stock out there.”
He said uncertainty over Brexit was one factor people staying put, but added: “People have to look at it and say ‘if we want to move, let’s do it.’”
Halifax managing director Russell Galley said: “A number of towns and cities have recorded significant rises in house prices over the past year, with all of the top 20 performers recording growth of at least double the national average.
“Unlike last year, the top performers are not exclusive to London and the South East, with the top spot now belonging to Cheltenham in the South West, and towns in East Anglia, East Midlands, North West, Wales and Yorkshire and the Humber also making the list.”
Mr Galley said price rises had been fuelled by a shortage of properties for sale.
“The imbalance between supply and demand continues to support house prices, which doesn’t look like changing in the near future,” he said. “Further ahead, increasing affordability issues as price increases continue to outstrip wage growth are likely to curb housing demand and cause price growth to ease.”