A new study has shown that house prices in the Surrey area of Elmbridge as well as many places in London have tripled since 2002.

Using data from the Office for National Statistics (ONS) you can find the average house prices in different local authorities, from across England and Wales between 2002 to 2020.

Elmbridge in Surrey has had one of the highest increases in house prices in the country over the last two decades in absolute terms. The average price of a house in this area has risen from £230,000 in 2002 to £600,000 in 2020.

HouseholdQuotes have created an interactive calculator so that you can see how much your area’s houses have changed in price over the last 20 years.

London Dominates The Highest House Prices In England

Elmbridge was the 10th highest chance in England over the past two decades but the highest local authority price change was Kensington and Chelsea.

This area, of course, known for its high house prices and beautiful buildings, has risen from £863,000 in 2002 to £1.25 million in 2020.

Apart from Elmbridge all of the remaining local authorities in the top 10 were from London with Westminster and the City of London being in the top three with Kensington and Chelsea.

There has, as expected, been an increase in all areas across the country, and this can be seen in Surrey where every district’s house prices have at least doubled over the past 20 years.

Percentage Increases in House Prices Across England

Elsewhere in the country, percentage increases rose higher than London and Surrey. In the East Midlands local authority of Corby the house prices rose by 246.49% in the last twenty years.

Waltham Forest in London and Pendle in the North West of the country were the next two highest price rises in terms of percentage increase in England.

Some notable price changes in the Surrey area include Elmbridge as previously mentioned with a 160% increase.

Mole Valley with a difference of £312,000 or 146% increase and Epsom and Ewell with houses now worth on average £485,000 in that area. A 148% increase from 2002.

David Beard, founder of price comparison and mortgage broker, Lending Expert commented:

“It is remarkable to see such tremendous growth in house prices across Surrey which has no doubt been driven by the pandemic and will delight homeowners living in that area. Being such a colourful, luscious and attractive area, it is going to be more valuable in a pandemic period where staying at home and in your area is going to be sought after.”

“One would imagine that house prices will fall at some point and possibly in the next year and it would be interesting to know whether people who are new to the area can afford these prices or are waiting for the market to calm down.”