An Isle of Wight town tops the country for growth in house prices in 2018

Some homeowners on the Isle of Wight will be pleased to hear that their properties have had the highest growth in value across the country this year. Not a bad way to end the year.

ryde vintage shop

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%.

Island prices
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)

  1. Ryde, Isle Of Wight: £242,016 (10.24%)
  2. Smethwick, West Midlands: £163,627 (9.67%)
  3. Diss, Norfolk: £311,486 (7.89%)
  4. Broadstairs, Kent: £333,212 (7.63%)
  5. Pontypool, Torfaen: £162,319 (7.52%)

Bottom five towns for property price growth
(average % decrease in value since January 2018)

  1. Alnwick, Northumberland: £238,802 (-6.58%)
  2. Biggleswade, Bedfordshire: £329,206 (-6.49%)
  3. Nantwich, Cheshire: £276,647 (-5.60%)
  4. Eastleigh, Hampshire: £337,784 (-5.19%)
  5. Hebburn, Tyne & Wear: £135,835 (-4.88%)

Source: The Guardian

Image: ronsaunders47 under CC BY 2.0

Friday, 28th December, 2018 11:57am

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ShortURL: http://wig.ht/2m1x

Filed under: Island-wide, Isle of Wight News, Ryde, Isle of Wight

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4 Comments on "An Isle of Wight town tops the country for growth in house prices in 2018"

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holdmyheadinmyhands

Sad the wages are so low then

realitycheck
Surely salary / wages / income is a relative factor – I know lots of people who earn in excess of £60,000 per year – I also know many people who are on minimum wage or as near to it… Wages may be RELATIVELY low but with a national minimum wage, the lowest paid members of the workforce are earning the same across the Country and so… Read more »
Mark L Francis

Well, looks like I won t be moving there any time soon then…

Tim

Hopefully reflected across the island making relocation to the mainland more feasible?