Swale has fastest house price growth in UK in October

Property owners in part of Kent have enjoyed the fastest annual growth in house prices in the UK, new official figures show.

Homes in Swale increased in value by 15.5% – the largest percentage in the country – in October to £254,831 compared to the same time last year.

Its nearest rivals nationally were West Somerset and Oadby and Wigston in Leicestershire.

Sheerness High Street
Sheerness High Street

However, the borough is not the most expensive place to live in Kent according to a joint report by the Office for National Statistics and the Land Registry.

The highest priced homes are in Sevenoaks, valued at £428,188, a rise of 4.8%.

The slowest price growth in the county was in Shepway, up 3% to £242,169.

The cheapest place to buy a house is Thanet, with average prices standing at £229,667 in October, up 9.4% on the previous year.

House prices in Swale grew at the fastest-pace of anywhere in the UK in October
House prices in Swale grew at the fastest-pace of anywhere in the UK in October

The price rises come as the number of sales have dropped in the majority of areas across Kent.

Tonbridge and Malling recorded a 32.8% fall to 166 in August, while Ashford suffered a 31.1% decline in volumes to 162.

Only Canterbury saw an increase in sales, up 9.3% to 281.

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