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The areas where house prices rose fastest in 2017 | The areas where house prices rose fastest in 2017 |
(about 1 hour later) | |
Homeowners in the East Midlands and Wales saw the value of their properties rise faster than anywhere else in the UK last year, according to the UK's largest mortgage lender. | Homeowners in the East Midlands and Wales saw the value of their properties rise faster than anywhere else in the UK last year, according to the UK's largest mortgage lender. |
Both areas saw prices rise by 8% during 2017, the Halifax said. | Both areas saw prices rise by 8% during 2017, the Halifax said. |
Strong price gains were also seen in the West Midlands, where prices went up by 5%, and the South West, with a rise of 4.9%. | Strong price gains were also seen in the West Midlands, where prices went up by 5%, and the South West, with a rise of 4.9%. |
Prices in London rose by just 1%, the slowest increase for six years. | Prices in London rose by just 1%, the slowest increase for six years. |
Scotland saw a small fall of 0.2%, while values in Northern Ireland fell by 5.6%. | Scotland saw a small fall of 0.2%, while values in Northern Ireland fell by 5.6%. |
Earlier this week, the Halifax said that prices across the UK as a whole rose by 2.7% in 2017, less than half the growth rate of 2016. | Earlier this week, the Halifax said that prices across the UK as a whole rose by 2.7% in 2017, less than half the growth rate of 2016. |
Four areas still have lower prices than a decade ago: Northern Ireland, Scotland, the north of England and Wales. | Four areas still have lower prices than a decade ago: Northern Ireland, Scotland, the north of England and Wales. |
The best performing regions over the past 10 years include London, where prices have risen by 45% since 2007, and the South East, where values have risen by 32%. | The best performing regions over the past 10 years include London, where prices have risen by 45% since 2007, and the South East, where values have risen by 32%. |
Earlier research by the Halifax suggested that Cheltenham was the town which saw the largest price increase in 2017. Homes in the Gloucestershire town increased in value by 13% during the year. | |
Perth saw the largest fall, with a decline of 5.3%. |
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