The town of Ryde on the Isle of Wight has been declared the top for growth in house prices this year (2018).
According to the Zoopla Website Ryde properties saw an increase of 10.24%, the highest in country, with the average house price of £242,016. It is followed close behind by Smethwick in the West Midlands with 9.67%.
According to data from the House Price Index, which the Office of National Statistics (ONS) compiles using house sale information from the Land Registry, the average homeowner on the Island would have seen their property rise in value by around £38,000 in the last five years.
However, the latest data from the Office of National Statistics shows that the average property on the Isle of Wight sold for £213,080 – below the UK average of £231,095.
Top five towns for property price growth
(average % increase in value since January 2018)
- Ryde, Isle Of Wight: £242,016 (10.24%)
- Smethwick, West Midlands: £163,627 (9.67%)
- Diss, Norfolk: £311,486 (7.89%)
- Broadstairs, Kent: £333,212 (7.63%)
- Pontypool, Torfaen: £162,319 (7.52%)
Bottom five towns for property price growth
(average % decrease in value since January 2018)
- Alnwick, Northumberland: £238,802 (-6.58%)
- Biggleswade, Bedfordshire: £329,206 (-6.49%)
- Nantwich, Cheshire: £276,647 (-5.60%)
- Eastleigh, Hampshire: £337,784 (-5.19%)
- Hebburn, Tyne & Wear: £135,835 (-4.88%)
Source: The Guardian