House prices still good

Published:  28 January, 2010

LONDON: House prices across all regions of Britain rose by an average of 105% during the past 10 years, the biggest increase in real terms seen during any decade in the past 50 years.

Despite property losing a fifth of its value between mid-2007 and mid-2009, the average house price rose from £81 596 during the final quarter of 1999 to £167 020 in the three months to the end of December 2009.

Martin Ellis, housing economist at Halifax, said: "The Noughties was a significant decade for house prices. The majority of towns that experienced the strongest price growth began the decade with lower than average property prices, which provided the platform for bigger price gains.

"Seaside towns fared particularly well as the attraction of having a home on the coast helped to boost demand."

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