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 Telford does not impact house prices in Trowbridge.
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 Orkney Islands where average house price dropped by 8.4%.
In second place came Inverclyde where house prices fell by 6.0%, and in third place with house prices down by 5.8% was Clackmannanshire.
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 Mole Valley with house prices fall £21,280 followed by Southwark house prices fell by £19,780 and making up the podium was Haringey with house prices down £18,410.
Smallest house price increases last year
If we look at house price growth over the last twelve months, it's all about London, the bigger they come, the bigger they fall
House prices in Westminster have fallen by 8.8%, Aberdeen City has seen house price deflation of, 6.6% and in third place was Kensington and Chelsea with annual house price deflation of 5.2%.
House price losers last year - absolute money terms
However, when it comes to absolute house price losers Westminster takes the honours. Average house prices down by £93,890, Kensington and Chelsea saw average house prices are fall by £72,150, with Camden in third place which saw average house prices decreased by £19,490.
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 two local authorities, the London borough of Westminster and Aberdeen City have seen house price falls.
House prices in Westminster have decreased by £45,340 since the start of lockdown one, house prices in Aberdeen City have decreased by £10,320, and in third place, Kensington and Chelsea, where house prices have decreased by £230 since the start of lockdown one.
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