House prices rise faster in York than anywhere else in the country

York has recorded the strongest house price inflation across England and Wales’s towns and cities in 2022.

Over the past year, house prices in the city have grown by 23.1%, or £69,648 on average in cash terms, Halifax found.

Since March 2020, the month when the coronavirus lockdowns started in the UK, average house prices in York have surged by 41.9% or £109,457, meaning typical property values here have risen to £370,639.

Kim Kinnaird, mortgages director, Halifax, said: “Overall 2022 was another year of rapid house price growth for most areas in the UK.

“And unlike many years in the past, the list isn’t dominated by towns and cities in the South East.

“Nowhere is that more the case than in the cathedral city of York, which saw the highest property price inflation across England and Wales this year, rising by over a fifth.

“While existing homeowners will welcome the increased value of their home, such a jump makes it much more challenging for those looking to step on to the property ladder or move into the city.

Tom Bill, head of UK residential research at estate agent Knight Frank, said: “This year saw the ‘escape to the country’ trend wind down while the return to towns and cities gathered pace.

“York captures the best of both of those worlds. Many people moved to Yorkshire during the pandemic due to family ties and the relative affordability compared to areas such as the Cotswolds.

Here are the cities and towns in England and Wales with the strongest annual percentage increases in house prices, according to Halifax, with the region and the average house price followed by the increase in cash and percentage terms (figures show the change in the 12 months to November 2022):

1. York, Yorkshire and the, Humber, £370,639, £69,648, 23.1%

2. Woking, South East, £586,925, £93,626, 19.0%

3. Swansea, Wales, £265,379, £39,450 17.5%

4. Chelmsford, East of England, £485,770, £69,775, 16.8%

5. Kettering, East Midlands, £326,895, £44,731, 15.9%

6. Derby, East Midlands, £277,491, £37,953, 15.8%

7. Wellingborough, East Midlands, £306,985, £41,087, 15.5%

8. Peterborough, East of England, £289,994, £37,599, 14.9%

=9. Bristol, South West, £394,126, £50,864, 14.8%

=9. Cambridge, East of England, £531,730, £68,586, 14.8%

11. Brentwood, East of England, £533,327, £66,998, 14.4%

12. Bournemouth, South West, £365,148, £45,559, 14.3%

13. Hove, South East, £526,201, £65,255, 14.2%

14. Colchester, East of England, £377,003, £46,208, 14.0%

15. Birmingham, West Midlands, £269,385, £32,563, 13.8%

16. Milton Keynes, South East, £416,496, £49,594, 13.5%

17. Newcastle-upon-Tyne, North East, £260,675, £30,157, 13.1%

18. Nottingham, East Midlands, £286,696, £32,966, 13.0%

19. Southampton, South East, £316,286, £36,151, 12.9%

20. Cheltenham, South West, £406,767, £45,972, 12.7%