What's happening in your town this month?

publication date: Apr 28, 2015
 | 
author/source: Kate Faulkner, Property Expert and Author of Which? Property Books

What's happening in your town?

The problem with looking at ‘averages’ at a high level is that property prices are so diverse from one street to the next, they are unlikely to make any sense to people locally. As such we look at data by town and city to gauge what variations there are across the country.

Download my full report for April 2015

Year on year prices changes at town and city level vary from 1.3% to 13.6%

  • Nine out of 22 of the towns we monitor still have ‘average’ property prices below £125,000.

  • Property prices in Liverpool and Bradford remain at -28% and -25% below market the height of 2007/8.

  • Manchester, Newcastle upon Tyne, Nottingham and Leeds prices are between -19% and -15% down on the previous market high, however, Newcastle upon Tyne has achieved good YoY growth of 8.1%.

  • Birmingham, Leicester and Peterborough prices are down by -12% on the 2007/08 height, with Sheffield prices down -11% on the market high. Peterborough has experienced good year on year growth of 6.9%.

  • Southampton, Cardiff, Bournemouth and Portsmouth are down between -6% and -4% on the market high of 2007/08, with Norfolk now only -3% down on the market height. Bournemouth reached +6.8% YoY.

  • Milton Keynes now just exceeds the market height of 2007/08 by 2%, and experienced strong year on year growth of 11.8%.

  • Cambridgeshire and Bristol prices exceed the 2007/8 high by 5%, and achieved strong year on year growth of 10.5% and 10.2%. Reading is now 8% above the market height, and experienced the strongest regional growth of 13.6%, year on year, and even outpacing London.

  • Prices in Oxfordshire and Brighton and Hove are now 11% and 14% above the height of the market, respectively, together with continued strong growth of 11% and 9.8%, YoY.

  • London prices have steadied recently, but remain 32% above the market high and YoY growth of 13.1%.

  • Prices in all towns remain above their market lows

Download my full report for April 2015

Kate Faulkner’s Market Commentary:

“The market is starting to settle down after a crash, a recovery and now it’s becoming ‘more stable’. However, it is still starved of enough stock which can only really increase with the provision of much needed new supply from developers, housing associations and local authorities. Currently people are staying in their homes for longer, while others choose the flexibility of renting and both of these trends reduce the number of properties coming on the market for sale.”

Download my full report for April 2015

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