Cornwall sees UK’s biggest house price rises

The North meanwhile experienced some of the strongest growth in house prices. The North and North West saw growth of 120% and 112% respectively, while the average cost of a home in Yorkshire and Humberside also soared by 130% during the period, jumping from £55,574 in 1999 to £127,852 at the end of last year.

There was an increase in house prices in Wales of 122% to average £137,316. The average cost of a home in Scotland rose by 94% during the 10 years, while in Northern Ireland prices ended the decade 99% higher than they started it.

The cost of the average home in the 10 best performing towns rose by at least 160% between the end of 1999 and the end of 2009.

Across all regions of the UK, house prices rose by an average of 105% during the 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 still 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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