House prices falling
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 Margate does not impact house prices in the market town of Marlborough.
In this article, we look at the 25 housing weakest housing markets across the country.
Biggest house price losers last month
The biggest house price losers last month were in Shetland Islands where average house price dropped by 7.7%.
In second place came Na h-Eileanan Siar where house prices fell by 4.2%, and in third place with house prices down by 3.1% was City of London.
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 winner was Kensington and Chelsea with house prices fall £35,950 followed by City of London house prices fell by £26,020 and making up the podium was Shetland Islands with house prices down £16,300.
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 City of London have fallen by 11.5%, Camden has seen house price deflation of, 4.2% and in third place was Aberdeen City with annual house price inflation of 0.8%.
House price losers last year - absolute money terms
However, when it comes to absolute house price losers City of London takes the honours. Average house prices down by £104,700, Camden saw average house prices are fall by £36,670, with Aberdeen City in third place which saw average house prices increased by £1,250.
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 bouse price falls.
House prices in Westminster have decreased by £54,370 since the start of lockdown one, house prices in Aberdeen City have increased by £6,970, and in third place, Tower Hamlets, where house prices have increased by £7,100 since the start of lockdown one.
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