The areas of Britain that saw the biggest increases in house prices during the pandemic have been revealed exclusively to MailOnline Property.
Bury St Edmunds in Suffolk and Banbury in Oxfordshire topped Halifax’s list and have seen prices skyrocket by £ 100,000 – more than a third.
The analysis, based on places with home sales of at least 100, covers the period from the beginning of March of last year to the end of February 2021.
Chorley in Lancashire, Leamington Spa in Warwickshire and Salisbury in Wiltshire are also in the top 10, indicating strong increases have been seen across the country.
Scroll down to the bottom of the story to see the full list of the 100 areas where prices went up 12% or more
We reveal where house prices have risen the most since the first foreclosure in March of last year
This three bedroom house in Bury St Edmunds in Suffolk is on sale for £ 281,250 via estate agents WIlliam H Brown
House prices have risen the most in Bury St Edmunds, rising an average of 37 per cent from £ 267,217 to £ 367,421 over the past year.
The pretty cathedral town of Suffolk is known for its Abbey Gardens and has hundreds of hanging baskets and flowerpots in spring and summer.
It is closely followed by Banbury, which saw average house prices rise 36 percent from £ 283,830 to £ 385,556.
In third place is King’s Lynn, where average values have risen 28% in one year, from £ 232,586 to £ 298,399.
None of the top 10 locations are in London. However, parts of the capital are on the longer list of 100 locations where house prices have risen over the past year.
They are at the bottom, with the Borough of Haringey in North London ranked in 98th position and the Borough of Brent in North West London in 100th position.
This three bedroom terraced house in Banbury, Oxfordshire is on sale for £ 275,000 via Connells estate agents
It comes as Britain approaches the anniversary of the first lockout on March 23, a period that saw a jackhammer take over the job market.
Many industries experienced a larger decline in job vacancies in 2020 than in the wake of the 2008 financial crisis.
And yet, unlike the 2008 crisis and the economic downturn of the time, over the past year the average price of a home has increased.
The typical value of a home in Britain has risen 12 percent, from £ 285,428 to £ 320,457, over the past year, according to Halifax.
This four bedroom house in King’s Lynn, Norfolk is for sale for £ 280,000 through estate agents William H Brown
|the 21st of February
|March 20 – February 2021 Change in%|
|East Midlands||224,122||256 103||14%|
|West Midlands||231,291||263 661||14%|
|Yorkshire and Humberside||196,241||221 833||13%|
|Greater London||538,909||567 788||5%|
Halifax also revealed average house price increases in each region, with the Southwest leading the way with a 17% increase from March of last year to February of this year.
This reflects the desire for more exterior and interior space over the past year, as restrictions from successive lockdowns have taken their toll.
Andrew Asaam, from Halifax, said: ‘Like many things over the past year, it would have been difficult to predict where we would see the biggest growth in house prices, especially when it all came to a standstill during the first locking.
‘Towns like Bury St Edmonds, Kings Lynn in Norfolk and Banbury in Oxfordshire have seen the biggest rise in house prices over the past year, while further north, Chorley and Huddersfield have also seen significant increases.
“ More time spent at home over the past 12 months has also helped fuel the desire for properties with more space and has broadened the reach of how people think about certain places as the work balance -Personal life has changed for buyers and sellers in 2020.
“We have seen a surge in the market in the second half of last year following the effective end of the first lockout, as well as people rushing to take the stamp duty holiday.
WHEN DO THE STAMP HOLIDAYS END?
The amount to which stamp duty is paid was temporarily increased by the government last summer to £ 500,000 for property sales in England and Northern Ireland.
The tax break was supposed to end on March 31, but the Chancellor announced in the budget that it will now end on June 30.
After this date the starting stamp duty rate will be £ 250,000 until the end of September. The stamp duty will then return to the usual level of £ 125,000.
This four bedroom semi-detached house in Buckshaw Village, Chorley is for sale for 190,000 via Strike Realtors
|the 21st of February
|March 20 – February 21 Change%|
|BURY ST EDMUNDS||267,217||367,421||37%|
|SPA LEAMINGTON||316,029||402 245||27%|
|HUDDERSFIELD||187 221||231 920||24%|
|BURTON ON TRENT||210,966||257,397||22%|
|SOUTHEND ON SEA||280,556||336,760||20%|
|SOUTH SHIELDS||146 932||175,672||20%|
|TELFORD||197 203||234 914||19%|
|WAKE UP||497,775||590 624||19%|
|WESTON SUPER MARE||226,748||267,050||18%|
|STOKE ON TRENT||165,137||194 299||18%|
|GILLINGHAM (KENT)||259,084||304 767||18%|
|EASTBOURNE||261 108||305 112||17%|
|BEDFORD||331 172||386 688||17%|
|BRIDGWATER||224 932||261 930||16%|
|NUNEATON||210 761||243 744||16%|
|NEWCASTLE UNDER LYME||174,906||200 656||15%|
|WAKEFIELD||200 920||227 944||13%|
|MILTON KEYNES||326,609||369 656||13%|
|ILFORD||441 239||498 570||13%|
|NEWCASTLE ON TYNE||201,582||227,502||13%|
|Haringey (LA)||564 932||633 077||12%|
|Brent (LA)||548 088||613 783||12%|