Economic growth lifts house prices
ECONOMICALLY active locations have seen the value of their property rise by almost £110,000 over a decade, according to new research by Halifax.
Between 1999 and 2009, the value of the average home in the ten areas recording the biggest increases in economic growth rose by 145 per cent from £75,222 to £184,491, the equivalent to a weekly increase of £228.
The increase was almost a third higher than property in areas with the weakest economic activity.
Best performing were Brighton and Hove, Cornwall and the Isles of Scilly. York was unusual showing low economic growth but a health increase in prices, which rose by 142 per cent from 1999 nd 2009 and by 7 per cent over the last three years.