Regional house prices - what's happening in your town?

publication date: Jun 27, 2014
 | 
author/source: Kate Faulkner, Property Expert and Author of Which? Property Books
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Regional House Prices - June 2014

Even at city and town levels, your property price or the value of the property you want to buy or sell can be going up when the regional data says, on average, prices are going down. So as well as tracking the regional data, we also track the latest property prices movements for major towns and cities in the UK during April 2014.

Download the full report for June 2014

What do price rises and falls mean for buyers and sellers?

  • Property prices in Liverpool and Bradford remain at -27% and -26% below market the height of 2007/8.

  • Manchester, Leeds, Nottingham, Sheffield, Birmingham and Peterborough prices are between 22% and 15% down on the previous high.

  • Peterborough and Nottingham have seen growth of 8.8% and 5.6% respectively, year on year.

  • Bournemouth and Cardiff are 9% and 8% down on 2007 heights respectively.

  • Bristol is currently 3% down on the market high, but is still showing strong year on year growth of 8.3%.

  • Brighton and Hove have exceeded the 2007/8 heights by 6%, with strong year on year growth of 9.2%.

  • London is now 24% above the market high with year on year growth of 17%.


Download the full report for June 2014

Kate's Comments:-

'In the excitement of property price rises in areas as we see above, from 4.8% through to 7.4%, people are forgetting that, in the main, property prices are good value versus the cost in 2007/8.

This is even the case in areas whereby prices are up since this time. For example, Brighton and Hove prices are just 6% higher than they were in 2007/8 and with inflation over this time averaging 3%, property prices should be much higher.' 


The reality for most buyers and sellers though is whatever the ‘average price’ might tell us, it’s really looking at sold property prices on your own road for your type of property which gives you a true idea of whether your property price has recovered from the height, still has some way to go or is increasing in price in line with inflation.'
 


Download the full report for June 2014

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Which? Property books and one of the UK's top property experts.
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