House prices in Newham increased at the fifth fastest rate of any area in the country last year, research by Halifax has shown.

The average house in Newham cost £37,344 more in 2017 than in 2016, constituting a 10.2 per cent price increase.

The average home in Newham now costs £402,781.

Newham is the London borough that experienced the sharpest price rise and the only borough featuring in the top ten price growth areas.

Barnet, in north London, is the borough that experienced the second highest price increases last year in London with an increase of 7.7 pc. This places Barnet, where the average home costs £584,049, joint 15th nationally.

Cheltenham, in south-west England, is the place where prices are increasing most rapidly. Last year they increased 13 pc.

Newham’s drastic price increase is a contrast to neighbouring Tower Hamlets, where prices went up a mere 0.3 pc.