House prices in parts of Oldham, Greater Manchester, have seen the fastest growth of all postcodes in 15 UK cities, according to a study.
Barclays Mortgages Postcode Ownership Index shows Oldham’s OL8 postcode, which covers the Bardsley area, has seen a 5.7% price increase in the past 12 months.
This compares to the national average of 2.6 percent and is 1.2 percent higher than the rest of Greater Manchester.
Wolverhampton’s WV2 postcode, which covers Wolverhampton city center, Horseley Fields and East Park, saw the second largest increase with 4.5%.
Barclays Mortgages Postcode Ownership Index shows Oldham’s OL8 postcode, which covers the Bardsley area, has seen a 5.7% price increase in the past 12 months. The ZIP Code Property Index is based on data provided by Barclays Mortgages to property analysts Hometrack, using average house prices provided by Zoopla.
Fastest growing postal codes
CITY / CITY
Burmantofts et Richmond Hill, Leeds
Bestwood Village, Nottingham
Purley, Croydon, Londres
Gleadless Valley, Sheffield
Barton Hill, Bristol
Edinburgh Old Town
Belfast City Center
Leicester City Center
Fareham et Titchfield, Hampshire
Clarkston et Eaglesham, Glasgow
Barclays Mortgages and Hometrack analyzed 15 cities in the UK, identifying the development of house prices over the past year for the city as a whole, as well as in each postcode district. Average price of accommodation provided by Zoopla.
That’s 1.6% more than the rest of the city. This means that properties in the WV2 postcode are worth on average £ 2,691 more than those in the rest of Wolverhampton.
This is closely followed by properties in L4, the Anfield area of Liverpool at 4.4 percent.
The strongest growth in London was seen in CR8 in Croydon, where house prices rose an average of 3.3 percent.
Commenting on the change, a spokesperson for Barclays Mortgages said: “The growth in house prices in OL8 has undoubtedly been boosted in part by a number of regeneration projects in the area.
“Besides the major developments nearby, Oldham also benefits from easy transport links to Manchester for commuters and its proximity to the Peak District. It comes as a third of Britons are looking to move to more rural areas following the lockdown (32%).
Biggest Growth: Barclays Mortgage Postcode Ownership Index shows Oldham’s OL8 postcode, which covers the Bardsley area, has seen a 5.7% price increase in the last 12 month. In the photo, a street in postal code OL8
The ZIP Code Property Index is based on data provided by Barclays Mortgages to property analysts Hometrack, using average house prices provided by Zoopla.
Researchers analyzed house prices in 15 cities across the UK.
Other featured cities are London, Cardiff and Edinburgh.
Ranked 15th on the list is Eagelsham, near Glasgow, which has seen an average price growth of 2.2 percent.
Lee Chiswell, Director of Barclays Mortgages, said: “The Postcode Property Index has highlighted specific areas where house prices are on the rise in cities across the UK.
Rapid increase: Wolverhampton’s WV2 postcode, which covers Wolverhampton city center, Horseley Fields and East Park, saw the second largest increase with 4.5%. Pictured is a WV2 postcode street in Wolverhampton
“This level of detail on how local neighborhoods stack up against others in their home city can be extremely helpful for those looking to buy and sell in today’s climate, as it shines a light on those neighborhoods that stand out. really.
“WV2, L4 and CF3 (outlying areas of Cardiff) have all seen a great amount of redevelopment and new homes built in recent years.
‘While the new homes and redevelopments may be a draw for some, Cardiff residents have also benefited from a cheaper journey to the South West of England since the Severn Bridge toll was removed in December 2018.
“We understand that the pandemic has added new challenges to the property buying and selling process, and we hope the Property by Zip Code Index will help educate those looking to relocate; to help them better understand regional price fluctuations in their region ”.
Less growth: Eagelsham, near Glasgow, is ranked 15th on the list, which has seen an average growth of 2.2 percent in prices. In the photo, a street in the region