Revealed: the town where house prices are rising fastest (and it isn't in London)
Price rises across the UK have been phenomenal since the beginning of the year, rising an average of £90 a day. London is naturally ahead of the pack - rising an astonishing 8.2% since January.
However, the town which has seen the fastest growth is a long way from London. So where is it, and why is growth there so phenomenal?%VIRTUAL-SkimlinksPromo%
Growth across the UK is soaring. A new report from Zoopla found that the average home in Britain now worth £260,488, up £16,265 since start of the year.
Every single region in Britain saw growth during this period (although not every town). London leads the way with growth of 8.2% (adding £43,115 to the value of the average property). Elsewhere there was a more mixed picture, with Wales recording growth of 3.5% and Scotland just 1.1%.
However, when the researchers looked closer at individual towns, London wasn't top of the list - Brentford in London was the best-performing town in the capital with 11.8% - and this put it at number four on the list.
Fastest-growing townsThe town with the fastest growth in the country was Salford in Greater Manchester, which rose an astounding 12%. This was followed by Brough in Yorkshir, St Leonards-On-Sea in East Sussex, Brentford in London and Tavistock in Devon.
Since January, average property values in the Manchester suburb have risen 12% (£14,874) and now stand at £138,619. Lawrence Hall of Zoopla commented: "Over the past few years Salford especially has prospered from job creation in the area which has helped boost the local property market. Property price growth has largely been a London and South East story until recently, so it is very encouraging to see the house price recovery broadening and the ripple effect starting to take hold further north."
One of the most striking job-creation schemes has been the move of much of the BBC to Media City, with the relocation of hundreds of former Londoners in the area. However, this is just part of a complete regeneration of the area. One of the most recent announcements was at the beginning of the year when Legal and General's property arm invested another £60 million in improving the area.
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The top ten townsSalford, Greater Manchester
St Leonards-On-Sea, East Sussex
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Worst-performingMeanwhile, at the other end of the spectrum, some towns are still struggling, and the bottom ten have seen price falls in this period. Worst of all was Wadebridge in north Cornwall where prices fell 2.1%, followed by Ryton in Tyne & Wear, Newton-Le-Willows in Merseyside, Treorchy in Rhondda Cynon Taff, and Bacup in Lancashire.
Hall said: "There have been a few weak spots in the market so far in 2014, like Cornwall where the strong pound has started turning those looking for holiday homes back towards foreign property markets. And towns on the England-Scotland border are likely suffering from caution amongst buyers ahead of the referendum on independence in September."
Bottom ten townsWadebridge, Cornwall
Ryton, Tyne & Wear
Treorchy, Rhondda Cynon Taff
Kinross, Perth & Kinross
Castleford, West Yorkshire
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