The diversity of the UK property market in the last 12 months is shown by the latest price ranking showing the areas with double digit growth and those where prices have fallen.
Swale in Kent has seen prices increase by 14.4% since last Christmas, the largest across the nation, followed by East Northamptonshire where prices are up 12.7%, Oadby and Wigston in Leicestershire with a rise of 12.4% and Cambridge up 12%.
The analysis from hybrid estate agent eMoov also shows that prices in Torridge in North Devon were up 11.8%, Corby and the Test Valley in Hampshire both up 11.7%, West Somerset and the Orkney Islands both up 10.9% and the London borough of Merton up 10.5%.
In actual monetary terms, the City of London tops the table. The price rise is just a 9.4% but this increase equates to over £76,000. The London borough of Merton, Cambridge and Waverley in Surrey have all seen prices rise by over £40,000 since last Christmas.
The location where prices have fallen the most is the Shetland Islands with a fall of 21.3% in the last 12 months, by far the biggest decrease. Prices fell by 8% in Kensington and Chelsea, by 7.4% in Hartlepool and by 5% in the City of Westminster.
Prices fell by 3.8% in Newcastle, by 2.9% in Guildford, by 2.5% in Hyndburn in Lancashire and the London borough of Brent, by 1.9% in Aberdeen and by 1.5% in Bracknell Forest. The biggest monetary fall was a decrease of £109,068 in Kensington and Chelsea.
‘Despite a hard year for UK property, there is still plenty of areas that have seen strong price growth, defying the wider market uncertainty that has seen an overall slowdown,’ said Russell Quirk, eMoov chief executive officer.
