HOUSE prices in Thanet have risen faster than almost anywhere else in the UK in the last year.

A survey by Nationwide building society puts the district second only to Norwich as local authority areas where prices jumped more than 20 per cent.

Houses in Thanet now cost on average over £20,000 more than a year ago, almost double the national average.

Cllr Mary Derrane, Thanet council cabinet member for housing, said: "Competition for available houses in the district is pushing the value up and the fact that our properties offer value for money is attracting attention from people outside the area."

Cllr Derrane said Thanet's position would send positive messages to the rest of the UK.

She said: "It demonstrates that regeneration is starting to take a real effect and that inward investment in the area by large companies like SAGA are bringing more people into Thanet.

"People want to move here. This will bring a greater skills base to the area and will also boost the economy as they spend their money here."

Nationwide building society group economist Alex Bannister said: "Prices can rise quite quickly in areas like Thanet that have been economically depressed for some time, and this is clearly what is happening. However, I do not think that the same rate of increase will be sustained in the coming year."

Margate seafront trader Terry Purser said: "Thanet is at the end of the longest cul-de-sac in Europe. At last people are finding out about Thanet and what it has to offer.

"We have the best air in the country - people here live longer and those who visit feel the benefits. I have always said that Thanet council should market the health-giving properties of the area."