Map shows where UK property prices have soared the most – has your house shot up in value?

A MAP has shown where UK property prices have soared the most – has your house shot up in value?

The average UK house price has steam-rolled up in value by 12 percent since 2021, according to government data.

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Analysis of information from the Office of National Statistics and Gov.uk. found that average property prices shot up by 16 percent in Wales and Scotland and by almost 12 percent in England.

That means if you’re looking to buy in Wales, the average home is likely to set you back £212,000. In Scotland, that figure is around £188,000 and an eye-watering £300,000 in England.

Meanwhile, homes prices differ vastly across England, with properties further North costing less on average than those further south or closer to the capital.

In the North East, price growth was at its lowest across the country at just under 5 percent in the period between April 2022 and December 2021.

That’s at odds with the North West, which has experienced one of the highest leaps in the same period of almost 10 percent.

Across the East Midlands – which captures Nottingham, Leicester and Derby – average prices saw one of the largest increases at 8 percent.

In the West Midlands, it increased by over 7 percent.

Though London remains the most expensive place to buy in England – with the average house price at £529,829 – it saw one of the lowest increases of just under 3.5 percent.

Generally speaking, the cost of housing rises when demand outstrips supply – causing prices to surge, which is what happens across the UK’s major metropolitan areas like London and Manchester.

In London, the average house price is 241 percent more expensive than a house in the North East.

The English region with the highest annual price growth in April 2022 was the South West, which includes Cornwall, Somerset, and Bristol.

The average property costs around £318,610, which is an 11 percent increase compared to the price back in December 2021 which was £287,000.

There are numerous factors for why the South West is so popular, from demand beating supply to the rise of remote working, according to MyJobQuote.

Yorkshire and The Humber saw prices increase by more than 9 percent while the East of England and South East both experienced a 6 percent jump.

This post first appeared on thesun.co.uk