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Tue 24 Mar 2015

Rise in property values where employment has improved

There has been a rise in property values in areas where employment has improved in recent years.
 
Certain areas of the country that have seen strong employment gains over the past decade have also seen the value of the average home increase at more than double the rate of the national average, houseladder.co.uk reports.
 
Halifax has published findings which show the top 20 performing areas in the UK in terms of rising levels of employment have seen on average 45% growth in property values. This is compared to the national average of 21% over the same period.
Areas with low employment have seen the lowest increase in home values.
Martin Ellis, Housing Economist at Halifax, comments: “There is a clear relationship between employment patterns and house price performance over the past decade. Top performing areas for employment have generally seen well above average house price gains while the worst performing employment areas have typically recorded much more modest property house price rises. This demonstrates the importance of economic conditions to the health of the local housing market.”

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