RYDE has been named as Britain’s property hotspot of 2018, with house prices rising by more than 10 per cent.

An average house in the town costs £242,016 and was the place where average home values rose by the most this year, according to property website Zoopla.

While a typical property in Ryde rose in value by 10.24 per cent, adding £22,500 to the cost of buying it, the average UK home’s value climbed by a far lower £2,860, Zoopla’s figures have revealed.

Overall UK house price inflation has eased this year, making it the first in which the rising cost of buying a home has not dramatically outstripped wages since 2012.

The next biggest gain was seen in Smethwick, close to Birmingham, in the West Midlands which was up by 9.67 per cent to £163,627.

Overall, property values rose 1.02 per cent this year, said Zoopla, but the UK’s nations and regions saw big variations in house price inflation.

In Scotland, property values rose by 6.43 per cent, while in Wales they climbed 3.98 per cent, but in England gains were a marginal 0.58 per cent.

London saw property values drop 1.67 per cent to an average of £653,587, according to Zoopla.