A Sussex town has topped the list of new towns for surges in property prices. House prices in Crawley have risen by 543 per cent over the last 30 years. In 1994, average property prices stood at £63,712, while in 2024, they rose to £409,836, research by Halifax has found.
Crawley placed first in the top ten list for new towns where house prices have grown the most. Craigavon in Northern Ireland was placed second, having seen the average house price increase by 524 per cent, from £31,189 to £194,560. Hemel Hempstead has experienced a 520 per cent jump in the average house price, from £70,502 to £436,986.
After the Second World War, a raft of new towns were built under the New Towns Act 1946. READ MORE: £3m block of flats and home with roof terrace to go under the hammer Amanda Bryden, head of Halifax Mortgages, said: “New towns have played an important role over the years in helping to provide additional, affordable housing options across the UK. “With the government’s ambitious plan to build a new generation of new towns, our research shows that while they offer homeowners the potential to benefit from significant price growth, they also present attractive opportunities for first-time buyers.
“It’s vital that a new towns policy prioritises affordability and sustainability. “Placing social and affordable housing options, energy-efficient buildings, green spaces, and accessible public transport at their core would give a clear signal to both investors and dev.