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House Price Growth Outperforms in Areas of Falling Unemployment

Areas with the largest falls in unemployment since 2007 have seen their houses prices soar by almost £100,000 in past decade, according to the latest research from Lloyds Bank.

The Bank found that the ten areas with the biggest unemployment declines have seen a house price rise of 53% on average, between 2007 and 2017, while the 10 areas with the highest unemployment rates recorded average house price growth of just 10%, less than half the national average of 25%, during the same 10 year period.

The 20 areas that have recorded the sharpest falls in unemployment have, on average, seen house price gains of almost double the national average over the past decade: 48% against the British average of 25%.

The best performing area amongst the 20 largest unemployment fallers is the London borough of Waltham Forest, which has experienced a 92% house price rise over the past decade from £233,779 to £449,384.

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