Hastings house prices risen by more than 250 per cent since 2000

Hastings and St Leonards is one of 19 areas in the UK which has seen house prices increase by more than 250 per cent since the start of the century.

Tuesday, 19th June 2018, 3:09 pm
Updated Tuesday, 19th June 2018, 4:58 pm
Rock A Nore, Hastings Old Town. SUS-170831-113101001

According to research by online estate agents HouseSimple.com, the average price of a home in the borough in January 2000 was £54,418.

The current average is now £200,767, a rise of 268.9 per cent.

HouseSimple.com said it identified 19 UK towns and cities that have seen average price growth of at least 250 per cent since 2000.

Sam Mitchell, CEO of online estate agents HouseSimple.com, said: “While London is the clear winner when it comes to house price growth since the turn of the century, prices have boomed in many areas outside the capital as these figures attest. What is more impressive is that in the middle of this 18-year period, we experienced one of the worst recessions this country has ever seen. It shows the resilience of the UK property market.

“During this period, London property prices stabilised thanks to an inflow of foreign investment, and then started to rise again 18 months after the height of the credit crunch. However, that wasn’t the case across large swathes of the country, where the recovery process was far more protracted.

“Today, the property price growth picture is entirely different. As London’s property market shows signs of running out of steam, we are seeing strong growth in the north of England. Eighteen years from now, the UK’s property hotspot landscape could well look entirely different.”