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South Wales led the table for rising property prices in 2018 according to analysis of Land Registry data by Gatehouse Bank.
The South Wales area of Newport came top for property price rises last year with housing shooting up by 10.6 per cent to a new average price of £182,505.
The second-best performing area was also in South Wales with Merthyr Tydfil experiencing a rise of 9.7 per cent to £106,228.
England finally featured at number three in the list, with Nuneaton, Warwickshire where prices climbed 9.3 per cent to £181,987 on average. Two other English areas made up the top five best performing place for property price rises, namely Warrington and Corby.
Meanwhile Scotland housed the area that suffered the worst fall outside of London with Aberdeen registering a fall in average property prices of 6.5 per cent in 2018 to a new average price of £152,799.
Across the UK property prices were up by 2.6 per cent last year, with 318 (78.3 per cent) of all 406 local authorities experiencing a rise in prices, while 88 (21.7 per cent) saw them fall in 2018.
CEO of Gatehouse Bank, Charles Haresnape, said: ‘It was an unpredictable year for house prices in 2018 and in the end, although the market only just outpaced inflation on the whole, there were still some stand out performances.
‘Increases of 10.6 per cent in Newport and 9.7 per cent in Merthyr Tydfil are pretty striking when you consider the political instability that has weighed on the UK since the Brexit vote.
‘Poor performances like that seen in Aberdeen, which fell 6.5 per cent, are proof that the cocktail of economic uncertainty, lack of housing supply and a raft of buyer incentives and cheap borrowing are creating a heady mix of outcomes across the country.’
Mr Haresnape concluded: ‘Of course, a strong increase in one year is no guarantee of future success. Indeed, only three places in 2017’s top 10 appear in 2018’s top flight, with first place Cambridge dropping to 259th of all local authority areas last year.’