Southend-on-Sea is the UK’s top property hotspot in the 21st century, with average prices soaring by 287.1% since January 2000.
The analysis by online estate agents HouseSimple.com reveals the Essex coastal town of Southend-On-Sea has seen faster property price increases than any other town or city outside London.
Four out of five of the biggest price growth areas outside London have been in the East, with Cambridge (279.2%), Luton (276.7%) and Basildon (274.7%) all seeing increases of more than 270%.
When London boroughs are included in the research, Waltham Forest in East London is the top performing area in the UK, with average house prices rising 364.9% since January 2000.
HouseSimple.com identified 19 UK towns and cities that have seen average price growth of at least 250% since January 2000.
Only two of those towns – Salford and Sale – are in the north of England, and both are in Greater Manchester.
The capital is the clear winner when it comes to gains made on property, with the eight biggest house price growth areas since January 2000 all London boroughs. They have all seen average property prices rise more than 300% since the start of the millennium.
After Waltham Forest comes another Olympic borough – Hackney, which has seen prices rise by 339% over the past 18 years.
Sam Mitchell, chief executive of HouseSimple.com, pointed out that in the middle of this 18-year period, there has been one of the worst recessions the country has ever seen.
“It shows the resilience of the UK property market,” Mitchell said.
He added that 18 years from now, the UK’s property hotspot landscape could look entirely different.