House prices 'pushed up' by relocators

Posted: 28 Nov 2011 16:10:12 GMT

House values in the most popular areas of England and Wales have doubled in the last ten years.

The prices of houses in the UK are being pushed up because of relocators, new research has suggested.

Carried out by Halifax, the study revealed the value of dwellings in the most popular regions of the nation have doubled in the last decade.

According to the investigation, the cost of abodes located in the 20 local authority districts that saw the most net internal migration between 2000 and 2010 increased by 101 per cent.

The average sum for such property hiked from £94,548 to £189,641, which represents a weekly climb of £183.

Suren Thiru, housing economist at Halifax - a division of Bank of Scotland - said: "The substantial population shifts across England and Wales appear to have had a marked impact on the housing market over the past decade."

The industry figure added house price growth tends to be greater in areas viewed as more desirable by movers, which underlines the significance of population changes with regard to housing demand.
 

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