Property values across the country have experienced an enormous increase during the 2000s - according to the new data.

New data revealed that the property market had experienced a significant change during 2000s - with an average increase of 105% across the country. Average value of a property rose from £81,596 recorded in the last 3 months of 1999 to £167,020 in the same period of 2009.

However, property prices in London and the south-east have recorded the smallest change compared to the average values of other UK regions over the past 10 years. Greater London and the South-east regions house prices increased by 80% and 85% respectively during the last 10 years. At the same time, the greatest increase was seen in the Northern part of the country, Yorkshire and Humber. These regions have experienced the biggest gains of a 130% rise in property values.

Other than that, Wales and the North both resulted in 122% and 120% increase in property prices respectively (See table below).

Regional House Prices in Past 10 Years (1999 – 2009)

Housing economist - Martin Ellis - commented, “Overall, prices increased considerably despite the marked decline towards the end of the decade.” He continued, “This contrasted sharply with the 1990s when prices rose only modestly in monetary terms and actually fell once retail price inflation is taken into account.”

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