Norfolk town has third largest house price rise in UK, report suggests

Mere Street in Diss, a town which ranks among the highest property price growths nationally accordin

Mere Street in Diss, a town which ranks among the highest property price growths nationally according to Zoopla. Picture by: Sonya Duncan - Credit: Sonya Duncan

Diss has experienced the third largest house price increase of post towns in the country this year, according to a new report.

The border town came below Smethwick in the West Midlands and above Broadstairs, Kent in a table compiled by property website Zoopla.

Zoopla looked at house price performances in post towns (towns with their own post codes) with 10,000 properties or more in 2018.

It found the current average house value in Diss is £311,486, with a growth of 7.89pc.

Richard Donnell, insight director at Zoopla said: 'Affordability levels remain attractive in many areas outside of southern England, and on the back of rising employment and low mortgage rates we see values outperforming the rest of the country, a trend we expect to continue into 2019.'

Ryde in the Isle Of Wight has seen the biggest house price increase over the past year, with double-digit growth of 10.24pc.

By contrast, Alnwick in Northumberland have fallen by an average of 6.58pc.

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The total value of Britain's homes has grown by an estimated £83 billion across 2018 to reach £8.29 trillion, adding around £2,860 to the average price of a home.

The general uplift has happened despite uncertainty over Brexit and stretched affordability when comparing house prices with incomes - although some parts of Britain have seen values fall.

And here are the top 10 post towns for the biggest property price growth in 2018 with the current average value and the percentage increase, according to Zoopla:

1. Ryde, Isle Of Wight, £242,016, 10.24pc

2. Smethwick, West Midlands, £163,627, 9.67pc

3. Diss, Norfolk, £311,486, 7.89pc

4. Broadstairs, Kent, £333,212, 7.63pc

5. Pontypool, Torfaen, £162,319, 7.52pc

6. Crook, County Durham, £120,792, 7.13pc

7. Torquay, Devon, £244,414, 7.05pc

8. Driffield, East Riding of Yorkshire, £209,406, 6.93pc

9. Brighouse, West Yorkshire, £180,739, 6.75pc

10. Motherwell, North Lanarkshire, £146,307, 6.74pc