Halifax reveals 'triple' house prices

31 October 2006
London house prices have soared in recent years - tripling in value since 1996, Halifax's house price index confirms.

Roughly half of all counties have experienced triple growth with London boroughs reporting the highest growth (240 per cent), while all regions have doubled in the last ten years.

Halifax's Tim Crawford considered some counties prices are a premium for the privilege of living there, and the town of Gerrard's Cross in Berkshire leads the housing price premium, up over £500,000 from £205,968, making it the most expensive area in the UK.

Ten towns have quadrupled their house values - four in the South East, two in London and two in Northern Ireland.

Mr Crawford also noted that housing in Northern Ireland and Wales has seen exceptional growth, accounting for two of the top performing towns.

Halifax predicts neither high interest rates nor unemployment are a concern in the immediate future considering their relative strength to other periods in the last 50 years.

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