House prices increase by 87 per cent in past 20 years here in the east

The nostalgic dream of returning to one’s childhood town has, for many, become an unattainable reality.

New analysis from property portal Zoopla reveals significant property price increases in certain areas of the UK over the last 20 years have placed this dream firmly out of reach.

House prices across the UK have increased by an average of 74 per cent, over the last 20 years, from £113,900 to £268,200, with house price-to-earnings ratios staying broadly in line at 6.4.

Here in eastern England, however, the rise has been steeper, with average prices jumping from £180,600 in 2005 to £337,500 in 2025, representing a leap of 87 per cent.

There have also been two decades of soaring house prices in the south east.

In eastern England, average house prices in St Albans have seen the most significant increase since 2005, up from £298,600 to £622,100 (108 per cent).

Just 25 miles away from London, the city is popular with commuters as well as history enthusiasts due to its spectacular cathedral and Roman architecture.

However, like the south east, there are more affordable pockets in Eastern England.

Great Yarmouth, for example, has seen the lowest growth in average house price increases in the region over the last 20 years, up 77 per cent from £105.900 to £187,700 (77 per cent).

Average house prices in the north east have increased by 39 per cent, the smallest increase across all regions, while the house price-to-earnings ratios have improved the most in the region compared to the rest of the UK, falling from 5.7 to 4 over the last 20 years.

Daniel Copley, consumer expert at Zoopla, said: “Our latest analysis certainly brings to light the profound impact that two decades of house price growth has had on the dream of ‘returning home.’

“UK house prices have soared by 74 per cent since 2005, making that nostalgic return financially unattainable for many, especially in hotspots in the south east and eastern England.

“However, the picture is far from uniform across the UK.

“Our data shows that while some areas have seen dramatic increases, house prices have risen slowly, in line with incomes in northern regions.

“This means that for some, the dream of returning to their roots might be much more attainable than they think.”