The average property price in the North West rose almost 10 per cent in 2022.

The data released by Halifax UK suggests the average for the region as of last month, around £268,600, is up around £23,400 on the same time last year.

Although significant, this is not as significant as in six other areas. The average property price in the South East rose more than 14 per cent in 2022, the largest of all areas, and there were larger increases in the South West, the East of England, Northern Ireland, Scotland and the West Midlands.

Meanwhile there were lesser increases in London, the East Midlands, the North East, Wales and Yorkshire and the Humber. Although the average for London, now almost £600,000, is still the highest in the country.

In terms of price inflation, no cities or towns in the North West are in the top 20 and only two, Newcastle and York, are in the North of England at all.

The data released by Halifax UK does not include the figures for Bury, but it is not in either the top 20 or the bottom 20 in terms of price inflation.

Kim Kinnaird, mortgages director for the high street bank, said: "Overall 2022 was another year of rapid house price growth for most areas in the UK. And unlike many years in the past, the list isn’t dominated by cities and towns in the South East.

“Nowhere is that more the case than in the cathedral city of York, which saw the highest property price inflation across England and Wales this year, rising by over a fifth. While existing homeowners will welcome the increased value of their home, such a jump makes it much more challenging for those looking to step onto the property ladder or move into the city.

“While London still has some of the highest property prices in the country, it recorded comparatively modest house price inflation over the last 12 months. This is partly due to pandemic driven shifts in housing preferences as buyers sought bigger properties further from urban centres.

“We can see this clearly in commuter towns such as Woking, Chelmsford and Hove, which – with their more diverse range of properties perhaps offering better value – recorded much bigger increases over the last year.”