The UK areas which have seen the biggest rises in average property prices

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UK homeowners have seen the value of their homes increase by more than 40% and almost £60,000 over the past eight years, as they’ve benefitted from a “once-in-a-generation” record low interest rate environment.

According to research carried out by online estate agents HouseSimple.com, average UK property prices have risen 41.2% since the Bank of England dropped interest rates to 0.5% in March 2009, and then dropped them further to 0.25% in August 2016. Average prices in Cambridge have almost doubled since March 2009, while average London prices have broken through the £500,000 ceiling.

But this golden period of house price growth could be drawing to an end. With three members of the Bank of England’s Monetary Policy Committee (MPC) voting for an interest rate rise in June, and inflation steadily rising, we could be close to the first rate rise in almost 100 months.

The following table shows the UK towns and cities that have seen the biggest rises in average property prices since interest rates fell to 0.5% in March 2009:

Town/City	Region	Average Property Price – March 2009 (£)	Average Property Price – April 2017 (£)	% Increase in property price
Cambridge	East	224,469	441,527	96.7
London	South East	278,186	530,751	90.8
Slough	South East	160,774	305,649	90.1
Oxford	South East	228,586	415,843	81.9
Watford	East	200,219	360,396	80.0
Milton Keynes	South East	147,903	262,241	77.3
Hemel Hempstead	East	230,686	406,312	76.1
Luton	South East	132,001	231,315	75.2
Brighton	South East	202,564	353,195	74.4
Crawley	South East	158,285	273,517	72.8
Stevenage	South East	160,350	276,201	72.2
Guildford	South East	261,614	444,232	69.8
Reading	South East	177,688	301,443	69.6
Colchester	East	149,654	253,618	69.5
Woking	South East	244,218	411,303	68.4