House prices in Swindon are among the fastest rising in the UK, according to figures released this week.

The average home in the town now costs £231,316 - an increase of 7.8 per cent over the past 12 months.

This means the average Swindon property price rose by £16,683 in 2017, or just over £1,400 per month.

The rise is nearly three times the UK average increase of 2.7 per cent, giving Swindon the 14th fastest-rising house prices in the UK, according to Halifax.

But despite the growth, Swindon house prices remain below the UK average, which currently stands at £254,609.

But it is this affordability and the town’s handy location for commuting which is fuelling the growth, according to local estate agents.

Chris Taylor, senior valuation manager at Castle Estate Agents and Lettings, said: “Swindon is definitely an up and coming town.

“It is popular because it is on the commuter belt but is so much cheaper than Bristol and Reading.

“You can be in Bristol in 25 minutes and London in just over an hour. The town is getting investment and we have the outlet village which is very popular.”

Michael Reynolds, a valuer and negotiator at Charles Harding on Commercial Road, added: “Swindon has had a fantastic three years of growth.

“We are in a fantastic spot. We’re half an hour from Bath and an hour from Cardiff and appeal to buy-to-let investors. We have a good range of employees like Honda and Nationwide.

“You can get a three-bedroom home in Swindon for the same price as a studio in Reading and there are a lot of new-build properties which have been good for first-time buyers.”

The average house price in Bristol is currently £286,426 (up 5.1 per cent) while a typical home in Reading costs £382,331 (up 0.7 per cent).

Fifteen of the 20 top house price performers are in London and southern England, with Cheltenham (13 per cent) topping the list.