Survey: Woking experiences biggest house price rise in UK

03 January 2012

Written by Gavin Elley

Residential property values in Woking, Surrey, rose at the country's fastest rate during 2011.

This is according to the Halifax Town House Price Survey of the UK, which revealed the cost of these buildings in the town increased by 16 per cent during the last 12 months, going from £257,590 to £299,654.

People taking out buy to let mortgages may have benefited from focusing on the south-east and London, as nine of the 20 strongest price rises were found to be in this region.

The second-greatest growth was seen in Falkirk, Scotland, which experienced a 12 per cent gain.

Halifax housing economist Martin Ellis pointed out: "The two towns recording the biggest rises are both within easy commuting distance of major commercial centres.

"Overall, we expect broad stability in house prices nationally during 2012."

Typically, the value of this class of real estate grew by one per cent during 2011 and fell 0.2 per cent during December, reaching an average of £163,822, the Nationwide House Price Index found.