Merthyr Tydfill property sees 175% gains
Published On 19 January 2007
Property prices in Merthyr Tydfill, Wales have shot up by 175 per cent over the last five years, according to new Halifax research.Figures from the high street banking chain on property prices across the different counties and regions in the UK have discovered that Wales and Scotland are now dominating the house price table while no county now has an average price below £100,000.
The largest house price increases in the UK were recorded by Merthyr Tydfill, with its 175 per cent gains over the last five years taking average prices from £45,578 in 2001 to £125,450 in 2006.
Martin Ellis, Halifax chief economist, said: "Wales, Scotland and, to a lesser extent, Northern Ireland, have dominated the UK county league table for house price growth over the past five years.
"Southern England, by contrast, has lagged behind. Much of the outperformance by these parts of the UK has been part of a catch-up process with the greater availability of more affordable property stimulating demand and therefore allowing prices to rise more quickly."
The survey revealed that the ten countries that delivered the highest house price growth over the past five years are all located in Wales and Scotland.
Other strong performers in the last five years included; Blaenau Gwent (160 per cent), Carmarthenshire (156 per cent), Isle of Anglesey (143 per cent), Rhondda, Cynon, Taff (138 per cent) and Conwy (136 per cent).
