House prices have trebled, increasing 87% since market recovery in February 1996, so the Halifax asserts.
In February 1996 the average UK property value was £62,453, a figure which is now £179,425, following an average increase of approximately 11% per annum.
This equates to more than three times the increase in the stock market over the same period of 61%, the mortgage lender has calculated.
London is the region which has been worst affected by the mid-90s crash, with house prices increasing there the most.
In London since 1996 the average house price has gone up 240%.
In comparison, Scotland has experienced the slightest increase, although house prices there have doubled in ten years.
Cornwall is the best performing county, with property values having increased 274%, with Carmarthenshire in Wales a close second with an average increase of 264%.
The ten top performing counties underwent price rises of 240% plus, with six of them being in Wales.
Surrey is still the most expensive county at present as it was in 1996.
The average Surrey house price is £314,037, whereas, a decade ago the average property in the county cost £96,983.
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House Prices Treble in Last Decade
Wed, 01 Nov 2006
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