Nuneaton and Bedworth noted the greatest rise in house prices over the course of last year, according to data collected by the Post Office Money.

Nuneaton and Bedworth in Warwickshire, recorded an 11 per cent rise over 2019, increasing the average house price to £179,995.

This was followed by Stockport in Greater Manchester and Leicester in Leicestershire, which both rose 10 per cent, increasing average house prices to £225,000 and £172,000, respectively.

Looking at the UK as a whole, average house prices rose 0.9 per cent in 2019, boosting the average house price to £282,713.

Meanwhile, Brighton and Hove in East Sussex recorded the largest rise in average house prices over the last 20 years, increasing by 418 per cent to £352,500.

Post Office Money Chrysanthy Pispinis says: “Rental income and opportunity for capital growth should be fully explored in the mid to long term to help evaluate the best locations as you begin your property search.

“The market as a whole may have slowed in the last year but many locations, especially in the midlands and north, are continuing to see significant house price growth. These properties are potentially good mid-term investments, particularly as they sit in locations that continue to be affordable, even for first-time buyers.

“Key cities in the midlands and the north of the UK continue to boom despite the slowdown in the southern market.

“The number of households renting in the UK has increased from 2.8m in 2007 to 4.5m in 2017, a rise of 1.7m, 63 per cent. This shows that there is still a real need for buy-to-let properties and therefore an opportunity for those looking for a New Year investment”.