Woking Identified as the town with the Largest Increase in Property Value
According to the latest price survey from the Halifax, Woking in Surrey is the location of the largest increase in property value for the year 2011. The town posted an impressive mark of 16% for the year, with the average home finishing the year at a price of almost 300,000 pounds. Woking is located with a close proximity to the Capital City. It is a quick easy commute to the city of London. Considering the entire housing market, it has come to many people as a big surprise that Woking is holding the current label as the city with the largest increase in property value.
The holder of second place on the list is the city of Falkirk in Scotland. Coming in second to Woking, the span remains a sizeable 12%.
Links to big cities have proven to be the game changer in regard to increases in property values for this year.
Martin Ellis, housing economist at Halifax, said: "There have been significant differences in performance in towns across the country. The two towns recording the biggest rises are both within easy commuting distance of major commercial centres. In contrast, the majority of towns that have fared worst in house price terms are outside southern England where economic conditions have tended to be less favourable.
"Uncertainty around the economy is unusually high as we go into the New Year. This makes it especially difficult to predict the course of house prices over the next 12 months. Overall, we expect broad stability in house prices nationally during 2012.”