House prices start to fall across UK: Is YOUR area affected? Full list revealed

New date from Rightmove showed areas in the UK where house prices dropped the most significantly in the months of October and November.
New date from Rightmove showed areas in the UK where house prices dropped the most significantly in the months of October and November.

New data has shown the parts of the UK where house prices are falling

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New data has shown the parts of the UK where house prices are falling.

Liz Truss and Kwasi Kwarteng’s controversial mini-budget, which contributed to the former prime minister’s resignation, spooked the market, with managing director at estate agent group Fine & Country Nicky Stevenson, saying its volatility “will become more apparent in the months ahead”.

But as a result of lenders pulling mortgage deals and reintroducing them at higher rates, as well as the Bank of England increasing its base rate by 0.75 per cent to three per cent, people have held off purchasing properties.

In England, house prices increased by 9.6 per cent annually, slowing from 13.7 per cent annual growth in August.
In England, house prices increased by 9.6 per cent annually, slowing from 13.7 per cent annual growth in August.

New date from Rightmove showed areas in the UK where house prices dropped the most significantly in the months of October and November.

Across the UK, the average house price in September was £295,000, which was £26,000 higher than a year earlier, the Office for National Statistics (ONS) said.

The average house price in Wales was at a record level of £224,000 in September.

In England, house prices increased by 9.6 per cent annually, slowing from 13.7 per cent annual growth in August.

The average house price in England also sat at a record level of £314,000 in September, which was unchanged from August.

Rightmove found that a month later, the average price of a UK property had dropped by 1.1 per cent, equating to £4,159.

The average house price in England sat at a record level of £314,000 in September, which was unchanged from August.
The average house price in England sat at a record level of £314,000 in September, which was unchanged from August.

The top ten areas in the UK which saw house prices drop were:

  • Wales - 3 per cent
  • Scotland - 2.2 per cent
  • London - 1.9 per cent
  • South West - 1.8 per cent
  • South East - 1.8 per cent
  • North East - 1.6 per cent
  • West Midlands - 1.4 per cent
  • North West - 1.1 per cent
  • Yorkshire and Humberside - 0.7 per cent
  • East Midlands - 0.6 per cent
  • East of England - 0.1 per cent

This translates to a £9,000 drop in value in Wales houses worth £291,000.