‘Race for space’ causes house prices to surge in UK towns

UK house prices have soared in UK towns this year amid the ‘race for space’.

Towns such as Taunton saw house prices jump by 21.8% according to new data from Halifax.

The average house price in Taunton has jumped to £315,759 – a £56,546 increase.

“As the county town of Somerset, this year’s house price winner, Taunton, has a lot to offer homebuyers with its high quality of life and great transport links to major towns and cities across the south-west,” said Russell Galley, the managing director of Halifax.

“Like Taunton, many of the areas that saw the biggest house price growth over the last year enjoy a combination of greater affordability and space compared to nearby cities.”