Where house prices are falling most
The biggest house price losers
Whilst house prices may be going up or down at a national level, at a local level the house price dynamics are much more complicated. There is no such thing as the UK housing market, rather it is a collection of hundreds if not thousands of local markets operating independently. A couple buying a three-bed semi-detached home in Neath does not impact house prices in Nailsea.
In this article, we look at the 25 housing weakest housing markets across the country. Hopefully, you don't live in one of the worst-performing housing markets in the UK.
Biggest house price losers last month
The biggest house price losers last month were in Hammersmith and Fulham where average house price dropped by 5.6%.
In second place came West Lancashire where house prices fell by 4.2%, and in third place with house prices down by 3.8% was Islington.
Interesting to see that the top three came from across the country.
House price losers last month - absolute money terms
If we look at house price growth in absolute, money terms, the biggest loser was Hammersmith and Fulham with house prices fall £43,710 followed by Islington house prices fell by £28,500 and making up the podium was Three Rivers with house prices down £20,320.
Smallest house price increases last year
If we look at house price growth over the last twelve months, we also see that the losers are spread across the country.
House prices in Kensington and Chelsea have fallen by 6.3%, Westminster has seen house price deflation of, 5.1% and in third place was Aberdeen City with annual house price deflation of 4.7%.
House price losers last year - absolute money terms
However, when it comes to absolute house price losers Kensington and Chelsea takes the honours. Average house prices down by £91,050, Westminster saw average house prices are fall by £49,850, with Hammersmith and Fulham in third place which saw average house prices decreased by £25,160.
Lockdown house price losers
If there is a silver lining to the lockdown not many places have seen house prices fall since the start of lockdown, only one local authority, the London borough of Westminster has seen house price falls.
House prices in Westminster have decreased by £78,850 since the start of lockdown one, house prices in Aberdeen City have decreased by £1,530, and in third place, Hammersmith and Fulham, where house prices have increased by £530 since the start of lockdown one.
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