Somerset’s Taunton sees biggest house price rises, says Halifax 

Taunton, Somerset has experienced the largest increase in home prices in Britain with its values rising by more than 20% this year.

This is the top-ranked house in a Halifax list of 2021 winners and losers, which includes towns as well as more rural areas.

Taunton’s 21.8 percent increase in property value is three times greater than the 6.2% national average.

Pictured. Taunton, Somerset, has witnessed the greatest increase in home prices. It saw a 21.8 percent rise over a single year according to Halifax research.

Halifax has revealed which areas have seen the greatest increases in home price growth in Britain.

In cash terms, the rise in Taunton translates to £56,546, bringing the average price of a home in the Somerset town to £315,759.

The price winner’s list also includes Chippenham in Wiltshire, which is well connected to both the M4 as rural areas.

Although it has seen a smaller percentage increase in house prices of 18.1 per cent, this translates into the biggest rise in cash terms of almost £60,000 in just one year.

Average values in Chippenham have increased from £322,859 in 2020 to £381,181 a year later, having risen £58,322.

Another winner in the hotspot list is the Wiltshire town of Chippenham, which has seen the biggest rise in cash terms of almost £60,000 in just one year

No London boroughs are included in the top 20 most expensive areas. This is a reflection of how people have shifted to rural and towns during this pandemic.

The South was not the only region experiencing rising house prices. Halifax Research found that just five of the 20 highest house price rises in the South East and South West were due to Halifax’s research.

Rest 15 were scattered across England, Wales and Scotland.

WHY SOMERSET’S TUNTON? 

Photographed by Somerset’s Taunton

Some people are not surprised that Somerset’s Taunton has risen to the top spot in house prices.

The commute to London is easy for residents who are only in London for a short time. There are also good schools nearby and a National Park. 

Robin Gould from Prime Purchase buying agents said, “I have been recommending Taunton clients for years. Although property prices have been rising, it has always been a place that you get more value for money.

“If you take a look at the map it appears far from anything. However, it is only two hours away by train from London Paddington. It’s extremely fast. You don’t need to commute all day. It is extremely easy.

‘Although Taunton was bombed during the war and so much of it is modern and ugly, it has everything you could possibly want – good schools, shops, and Exmoor on the doorstep. You will find it offers the perfect balance of country and London, which is why more people are looking for this type of lifestyle.

The area of London with the highest growth was Enfield, where average values were up 6.8 per cent, from £479,745 in 2020, to £512,135 in 2021.

It was marginally ahead of Harrow, where average prices rose 6.7 per cent, from £531,708 in 2020 to £567,501 in 2021.

Russell Galley from Halifax stated: “As Somerset’s County Town, Taunton this year’s House Prince Winner, Taunton has a lot for homebuyers, with its high-quality of life and fantastic transport links to major cities and towns across the South West.

Taunton was one of many areas to see the highest house prices increase in recent years. These neighborhoods have a greater combination of affordability and more space than the surrounding cities. 

“Places such as Hamilton, Newark and Bradford – which offer a wide range of property types, settings, and locations – are all significantly more valuable than their metropolitan counterparts.

This is most obvious in London. Rarely does London’s boroughs not rank among the top areas for house prices growth. But that was the case in 2021. 

“This shift mirrors the trend we’ve seen in home buyers in the past year, with less emphasis on big cities and greater demand for homes further out.

Rise of the North

Fourteen North West areas ranked among the top twenty for house prices growth were Rochdale and Widnes and Bolton. Three were from Yorkshire and Humber, Scunthorpe and Doncaster. Two were from Scotland (Motherwell and Hamilton). Six more were also from Wales and the Midlands.

This contrasts sharply with 2020 when eleven of the most populated areas saw the highest growth in London and South.

There were four locations in North West that saw the highest house prices growth, Rochdale and Greater Manchester being included (pictured).

Wales saw the greatest rate of house price growth across any region in Britain, according to Halifax, with the value of homes rising by 14 per cent on average, from £202,680 in 2020 to £231,134 in 2021.

It was well above the gains made by those in second or third place, Yorkshire and Humber and East Anglia. These places saw gains of slightly more than 10% over the previous 12 months.

In the past year, house prices in almost all regions between Scotland and the Midlands increased by an average of 5% or more.

Scotland saw average growth of 8.8 per cent, with prices rising by £16,761 to £207,778. Motherwell saw the highest growth with 17.3 per cent, up £26,103 to £177,118, ahead of Hamilton at 13.7 per cent – up £19,225 to £159,176 -, and Dumfries on 13.6 per cent – up £20,982 to £175,002.

Similar to the rest, the growth in Britain’s major cities was slower than that of the Scottish average.

Only Dundee, at 11.3 percent, saw an increase above the regional average, while Aberdeen, Glasgow, and Edinburgh all fell short of Scotland’s overall gains.

On the other side of the country the average house price in the capital was flat last year. Greater London saw average prices fall marginally, down 0.6 per cent from £558,272 to £554,684.

There was mixed growth across boroughs. Harrow and Enfield were the two only areas that saw growth above the national average. Westminster experienced the largest decline of any country area, with a 6.9% drop.