Chippenham home owners have had a good year, with the average value of their property rocketing by £58,322 during the past 12 months – an increase of £1,121 per week.

Such is the demand from people wanting to live in Chippenham that house prices have risen by 18.1 per cent since 2020 – almost three times the UK average increase of 6.2 per cent.

According to calculations by the Halifax, Chippenham is now ranked fourth in the nationwide league of places with the highest growth in house prices over the last year.

The price of the average home in Chippenham is now £381,181, claims the bank.

The demand to live in the town is fuelled by its easy access to the M4, good rail links, rural surroundings on the doorstep and what the Halifax calls buyers’ “race for space”.

In comparison with the price of an average Chippenham home, the price of the average home in Westminster in London is now £738,088, down £54,809 on last year, a drop of 6.9 per cent.

Taunton has been identified as the UK’s top house price hotspot in 2021, with property values in the Somerset county town increasing by more than a fifth (21.8 per cent). The average house price in Taunton rose by £56,546 to £315,759.

Russell Galley, managing director of Halifax, said: “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.”

He added: “Places where there are a broad range of property types and settings all offer significantly better value than their more metropolitan neighbours.

“This is perhaps most clearly shown in the UK’s capital. It is rare that no London boroughs appear amongst the areas of highest house price growth but that is the case in 2021.

“This shift echoes what we have seen from home-buyers over the last year – less focus on major cities and more demand in the suburbs and further afield.”

Here are the top 20 hotspots with the highest growth in the average house price over the past year, according to Halifax, with the average house price now and the one-year change in cash and per centage terms:

1. Taunton, South West, £315,759, £56,546, 21.8 per cent.

2. Newark, East Midlands, £280,934, £46,732, 20.0 per cent.

3. Rochdale, North West, £206,098, £32,123, 18.5 per cent.

4. Chippenham, South West, £381,181, £58,322, 18.1 per cent.

5. Braintree, South East, £356,216, £54,236, 18.0 per cent.

6. Widnes, North West, £222,876, £33,628, 17.8 per cent.

7. Motherwell, Scotland, £177,118, £26,103, 17.3 per cent.

8. Bolton, North West, £212,671, £30,818, 16.9 per cent.

9. Hereford, West Midlands, £306,872, £44,336, 16.9 per cent.

10. Walsall, West Midlands, £230,972, £31,614, 15.9 per cent.

11. Bradford, Yorkshire and the Humber, £170,684, £23,323, 15.8 per cent.

12. Swansea, Wales, £211,590, £28,360, 15.5 per cent.

13. Kettering, East Midlands, £285,103, £36,783, 14.8 per cent.

14. Maidstone, South East, £370,964, £47,756, 14.8 per cent.

15. Newton Abbot, South West, £326,623, £42,014, 14.8 per cent.

16. Spalding, East Midlands, £264,668, £33,703, 14.6 per cent.

17. Wirral, North West, £276,042, £34,936, 14.5 per cent.

18. Scunthorpe, Yorkshire and the Humber, £176,186, £21,986, 14.3 per cent.

19. Doncaster, Yorkshire and the Humber, £201,824, £25,096, 14.2 per cent.

20. Hamilton, Scotland, £159,176, £19,225, 13.7 per cent.