They shot up by 10.8 per cent in 2024 with the average house now worth £230,379, according to figures released by Halifax.
Hamilton, in South Lanarkshire, saw the second biggest growth.
Stoke-on-Trent notched up the steepest increase in house prices in the UK in 2024 as buyers sought out more affordable locations, but Huddersfield and many London boroughs saw values fall.
Halifax unveiled its list of the biggest UK regional house price risers and fallers, with Stoke-on-Trent in Staffordshire taking the top spot with a 17.2 per cent jump to an average of £227,002 in the 12 months to September 2024.
This marked a turnaround after the city was the biggest faller in 2023.
Dunfermline High Street (Image: NQ)
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Amanda Bryden, head of mortgages at Halifax, said: “Some areas of the UK – including Stoke-on-Trent, Wolverhampton and Dunfermline – have seen remarkable house price growth this year, as buyers perhaps seek out more affordable areas where house prices, despite increases, are still coming in under the national average.
“This trend is causing house prices in some areas to flip from slowing, to growing, such as Stoke-on-Trent, which was the biggest faller last year but showed the highest rate of growth regionally this year.”
She added: “The high asking price for London properties means house prices have fallen in several boroughs – perhaps a reflection that the relatively high cost of properties is stretching affordability for buyers, or perhaps what they are willing to pay.”
Hamilton (Image: NQ) The past year has seen interest rates cut twice, in August and November, to end 2024 at 4.75 per cent, but buyers are still struggling with affordability as borrowing costs remain high and amid other cost-of-living pressures.
The research from Halifax showed that regionally, the south east of England had the slowest price growth, at 1.8 per cent, while Northern Ireland was top of the table with 10.6 per cent, followed by Yorkshire and The Humber at 6.4 per cent.
London prices rose overall despite falls across a number of boroughs, up 3.6 per cent in the year.