The eight postcodes where house prices went up by more than £100,000 this year
HOUSE prices have rocketed over the past year as buyers look to move out of big cities.
has shared data showing that in eight UK postcodes, house prices have risen by more than £100,000.
The major growth has been seen over just the past year and some eager buyers have even snapped up homes without visiting them in person.
Top spots that made the list range from north Cornwall and Devon to villages close to Glasgow and Bristol that buyers can still commute into the city from.
Because of the pandemic, home-buyers have changed their mindset on where is best to buy a new property.
Coastal and country spots are in, and spots in the big cities are out.
Sam Edwards from GetAgent commented: "After a year and a half of grim lockdown living, it’s natural that movers are prioritising space and warmth in their hunt for their dream home.
"It’s no surprise then, that England’s southern postcodes have seen a hike in house price to meet this growing demand.
"Sunny countryside counties like Cornwall and South Hampshire score among the most popular, with increases as high as £135,128 and £131,708 respectively."
But homeowners still want locations to be easy to reach more built up areas as they look to upgrade their space as well as work-life balance.
According to Rightmove, Cornwall overtook London as the most popular search destination for property buyers, and that's reflected in the rising prices too.
The UK's biggest building society, Nationwide has also recently published it's latest index showing that the annual rate of growth is at 10.5%.
House prices did see slight reductions month on month though, at -0.5% which will have cooled off the market somewhat especially since the stamp duty holiday has tapered off.
But while house prices are sky-high at the moment, some experts think they’ll drop off next year because of the end of the stamp duty holiday.
CEO of GetAgent, Colby Short, previously said: "Homebuyers have, and will, continue to flock to the market in order to realise their dream of homeownership and this will help maintain the upward price trends seen of late.”
How has the pandemic impacted house prices?
The pandemic and work from home order that was in place for most of the past year has also made buyers want bigger homes with room to live and work, as well as a garden.
But because they are in short supply the costs mount up.
Cornwall has a known history of being popular with second home owners and it will always be a popular holiday destination too.
That means lots of buyers could be eager to buy a property in the area to let out to tourists during the summer months.
Especially since most Brits holiday plans have been dashed this year, those who would normally go abroad have visited the area for the first time during the pandemic - boosting popularity further.
The same goes for Devon where the inaccessibility of the area used to keep prices down but is now seen as an attraction.
Plus, buyers looking for new homes in Bristol and Glasgow see the appeal of living close enough to city hubs but far enough away that they can enjoy the space that comes from out-of-city properties.
These are the postcodes where house prices went up by more than £100,000 this year:
- North Cornwall, PL27 - Last year: £342,903, This year: £478,031
- North Cornwall, PL2 - Last year: £403,655, This year: £538,597
- South Cornwall, PL23 - Last year: £395,628, This year: £520,525
- South Devon, TQ8 - Last year: £617,857, This year: £749,565
- North Devon, EX33 - Last year: £367,811, This year: £484,935
- East Suffolk, IP10 - Last year: £352,495, This year: £482,809
- Renfrewshire, PA13 - Last year: £227,600, This year: £334,232
- Somerset, BS41 - Last year: £419,895, This year: £524,917
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