Property prices rocket by over £50k in Peak District villages - and by over £20k in Sheffield in just a year

The Derbyshire Dales – which covers Bakewell, Matlock and Matlock Bath – is in the top 10 areas with the biggest price hikes, according to the House Price Index.

It says values rose from £258,630 to £310,811 – an increase of £52,181 in the last 12 months. During the same period, Sheffield house prices rose from £164,152 to £184,701, an increase of £20,548.

This is the highest rise in South Yorkshire and above the Yorkshire average of £16,885.

Nationally, the research by Keller Williams shows the average UK home value has risen by £23,116 in 12 months, with the average house price climbing from £231,508 in May of last year, to £254,624 in May 2021.

The Derbyshire Dales district council’s website says the area has much to offer.

It adds: “Picturesque villages and bustling market towns with historic buildings, speciality shops and local produce – wooded valleys overlooked by spectacular crags and cut by sparking rivers. The Derbyshire Dales has all of this - a perfect choice for a day out, a weekend break or a longer holiday.”

The Dales is holding a welcome back weekend next month after lockdown restrictions eased. It will feature free entertainment at Hall Leys Park in Matlock between August 20-21. Events include an outdoor cinema, artisan music and live music.

CEO of Keller Williams UK Ben Taylor said: “The latest market data shows that house prices have climbed by 10% across the UK which is a phenomenal rate of growth.

"While not all areas have performed as strongly in percentage terms, the differing price of property across the UK market means that the actual cash increase has been sizable, even in the worst-performing regions.

“On average, UK homeowners are over £23,000 better off than they were year ago and this is proof, if ever it were needed, that there’s no better investment than bricks and mortar.”

Regionally, the South East has the biggest increase with the average home now worth £29,199 more than a year ago.

The latest index shows that the North West has the largest rate of annual growth of all regions at 15.2%. No surprise then, that the region has the second-largest cash increase in the last year at £24,987.

In contrast, London has the lowest rate of annual growth of all regions at 5.2%, but the higher price of property in the capital means that London homeowners have enjoyed the third-highest cash increase at £24,987.

The capital is also home to the area that has enjoyed by far the highest cash increase at local authority level. Hammersmith and Fulham home values have increased by £101,496. One other area of London makes the top 10 biggest cash increase, with homeowners in Bromley enjoying a £59,885 jump in the value of their home.

Outside of London, the average house price in Rutland has climbed by £88,625 in a year