St Albans 'most expensive UK town'

St Albans has a higher average house price than any other town in the UK, a new study from Nationwide has revealed.

The lender's research has found that the average house price in the town has risen by 13 per cent over the past 12 months, and now stands at almost £350,000.

This rise, however, should not be taken to mean that prices have been rising consistently around the country, Nationwide added.

"House price growth recorded another strong year in 2007, but the national figures disguise movements in different parts of the country. Nationwide's house price survey of 30 major towns and cities in the UK shows how wide the disparities across the country can be," said Fionnuala Earley, chief economist at Nationwide.

"During 2007, a total of five towns and cities broke through the £300,000 barrier. Belfast, Oxford, London, Brighton and Cambridge joined St Albans as towns and cities in the UK where the average house price exceeds £300,000," Ms Earley added.

Earlier in 2007 Brighton was named as the UK's most popular area for buy-to-let investment.

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