Cornwall property prices 'saw biggest increase in 2000s'
Cornwall could prove to be a new UK property hotspot after figures revealed that towns in the county experienced some of the highest levels of price growth in the last decade.
The figures, released by the Halifax, show that the town of Redruth recorded the biggest price rise in the noughties of 207%. Significant price increases in Penzance and Helston mean that 3 of the 4 towns which experienced the largest gains are in Cornwall.
However, in terms of regions it was Yorkshire and Humberside which saw the largest price increases of 130%. Greater London and the south-east saw the smallest gains of 80% and 85% respectively.
On average UK house prices increased by 105% in the ten years between the 4th quarter of 1999 and the 4th quarter of 2009.
Martin Ellis, a housing economist at Halifax, said: "The majority of towns that experienced the strongest price growth began the decade with lower than average property prices, which provided the platform for bigger price gains."
"Seaside towns fared particularly well as the attraction of having a home on the coast helped to boost demand," he added.
Halifax recently released research which showed house prices have increased by 273% in real terms since 1959.
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