Halifax has revealed the 10 local areas of Britain with the strongest house price growth over the last year.

The bank’s latest research found that more than 70 local authority areas have bucked the national trend with rising property prices.

Powys in Wales has seen the strongest growth (+17.4%) over the last 12 months. East Lindsey, in East Midlands, tops the list for England (+13.3%).

While in Moray has seen the highest property price inflation (+10.7%) in Scotland. The seven other areas with rising house prices include Ealing, Westminster/City of London, Sunderland, Babergh, Bolsover, Cumberland and Rossendale.

The research analysis – based on data from the Halifax House Price Index – looked at typical house prices in more than 300 Local Authority Areas across Britian in the three months up to September this year.

It compared them to the equivalent figures from 2022.

The Halifax research, which was published today (14 November), showed that despite the economic challenges, several locations posted strong growth in property prices during 2023.

However, it noted that at a UK level house prices are down by -3.9% over the last year. This was attributed to higher interest rates impacting on mortgage affordability which has fed through to lower demand among would-be buyers.

Halifax Mortgages director Kim Kinnaird said: “What’s clear is that the UK housing market is not a single-entity that performs in a uniform way across the country, there are differences. While at a national level the current squeeze on mortgage affordability has seen property prices fall over the last year, in many regions there remain pockets of house price growth. While a limited supply of properties for sale could be a factor, this also suggests in some areas, local market activity – and demand among buyers – remains strong.

“Many of the places highlighted in our research also benefit from more remote or rural surroundings and incorporate areas of outstanding natural beauty. These are traits which continue to be desirable for prospective homeowners, bucking the trend of the wider performance of the housing market.”

Jeremy Leaf, north London estate agent and a former RICS residential chairman, added: “These numbers are interesting because they show the pattern of values in different areas and how markets are not the same. There is no real substitute for studying the market and area you are interested in carefully because it may well be in front of, or behind, the national average or pattern.

“The market is made up of many different micro markets, producing different results, which is why it is so important to do the groundwork. A national average figure should be relied upon as a guide only.

“In any event, we tend to be a bit too fixated on prices. There are other factors also worth taking into consideration such as transaction numbers, discount to asking price and time on the market, as well as supply and demand. From neighbourhood to neighbourhood the picture can alter significantly.”