House prices falling: 20 UK areas where average house prices fell the most in December - as some see drops of over 4%
With house prices now falling month-on-month in the UK, we take a look at the parts of the country seeing the deepest slumps.
House prices fell in over 170 council areas across the UK last month, amid a national housing market slowdown, NationalWorld analysis of official data shows.
The average price of a property in the UK dropped by 0.4% between November and December, from a record-high of £295,608 down to £294,329, according to the UK House Price Index from the Office for National Statistics (ONS) and UK Land Registry. Annually, prices were still rising, although the pace of inflation has changed – prices in December were up 9.8% year-on-year, compared to 10.6% in November.
It was not a uniform picture across the UK however, with some regions and devolved nations recording monthly price increases – these were Wales (+0.7%), the East Midlands (+0.5%), the South East (+0.4%) and Yorkshire and the Humber (+0.6%). Scotland meanwhile saw prices tumble by 2.9%, the biggest monthly drop of any region, followed by the South West (-1.8%) and the East of England (-0.8%).
On a local level, some council areas saw house prices fall by more than 4% between November and December. Out of 373 areas, 173 saw prices drop, while 189 saw price rises. A further 11 areas saw no change in average house prices.
Below, we have crunched the latest numbers to find the 20 council areas with the biggest drop in average price between November and December.
We have also created an interactive tool that will allow you to check how prices have fared for different types of properties in your area over both the last year and the last two decades.