There are a number of local housing markets where homes cost far less than they did ten years ago.
In one part of Liverpool, for instance, average house prices at the end of 2008 were £116,821, but by the end of last year were £65,178.
Liverpool is one of ten places, all in the north, where house prices in certain local markets have dropped at least 33%.
The local markets are in government-termed Middle Layer Super Output Areas, which break down places by localised elements and allocate each one a name and code identity which can be looked up at: https://mapit.mysociety.org/areas/OMG.html
Research by estate agency comparison website GetAgent analysed MSOAs and found winners and losers in the ten years to the end of 2018.
The top ten best MSOAs for house price growth are all in London, with Camden (022) leading the lot with growth of 389.82%.
The best MSOA for house price growth outside of London is Cambridge (010), where growth has been 156.71% since the financial crisis.
GetAgent founder Colby Short said: “While we tend to focus on top-line statistics, the UK housing market is made up of thousands of micro-markets and so what is happening in one area can be the polar opposite to another.
“Looking at these more granular levels of data provides an interesting insight that differs from the usual blanket, generic observations and demonstrates how even in the same city, the market can perform differently from one area to the next.”
| Local Authority | MSOA name | Average Price – year ending Dec 2008 | Average Price – year ending Dec 2018 | Average Price change / growth (2008-2018) |
| Liverpool | Liverpool 023 | £116,821 | £65,178 | -44.21% |
| Bradford | Bradford 044 | £125,514 | £76,034 | -39.42% |
| Hartlepool | Hartlepool 005 | £97,532 | £60,338 | -38.14% |
| County Durham | County Durham 036 | £78,612 | £49,203 | -37.41% |
| Liverpool | Liverpool 060 | £153,232 | £96,805 | -36.82% |
| Bradford | Bradford 039 | £106,023 | £67,180 | -36.64% |
| Bradford | Bradford 048 | £103,531 | £65,797 | -36.45% |
| Middlesbrough | Middlesbrough 002 | £70,602 | £45,486 | -35.57% |
| Sunderland | Sunderland 001 | £258,307 | £166,832 | -35.41% |
| Middlesbrough | Middlesbrough 001 | £99,788 | £66,336 | -33.52% |
Ranking – best price growth by MSOA
| Local Authority | MSOA name | Average Price – year ending Dec 2008 | Average Price – year ending Dec 2018 | Average Price change / growth (2008-2018) |
| Camden | Camden 022 | £308,080 | £1,509,051 | 389.82% |
| Lambeth | Lambeth 003 | £347,800 | £1,470,280 | 322.74% |
| Kensington and Chelsea | Kensington and Chelsea 015 | £591,097 | £2,021,422 | 241.98% |
| Kensington and Chelsea | Kensington and Chelsea 003 | £588,843 | £1,918,679 | 225.84% |
| City of London | City of London 001 | £414,722 | £1,269,846 | 206.19% |
| Westminster | Westminster 011 | £940,160 | £2,811,039 | 199.00% |
| Islington | Islington 019 | £313,646 | £921,354 | 193.76% |
| Westminster | Westminster 021 | £551,376 | £1,604,600 | 191.02% |
| Westminster | Westminster 018 | £1,081,556 | £3,100,377 | 186.66% |
| Westminster | Westminster 001 | £854,349 | £2,391,340 | 179.90% |
Ranking – best price growth by MSOA (excluding London)
| Local Authority | MSOA name | Average Price – year ending Dec 2008 | Average Price – year ending Dec 2018 | Average Price change / growth (2008-2018) |
| Cambridge | Cambridge 010 | £167,620 | £430,291 | 156.71% |
| Winchester | Winchester 008 | £307,256 | £765,412 | 149.11% |
| Coventry | Coventry 007 | £70,067 | £170,877 | 143.88% |
| Manchester | Manchester 045 | £194,632 | £431,771 | 121.84% |
| Brighton and Hove | Brighton and Hove 023 | £238,589 | £526,245 | 120.57% |
| South Oxfordshire | South Oxfordshire 008 | £335,591 | £728,975 | 117.22% |
| Chelmsford | Chelmsford 004 | £187,448 | £403,896 | 115.47% |
| Salford | Salford 004 | £100,160 | £214,358 | 114.02% |
| East Hertfordshire | East Hertfordshire 004 | £259,613 | £549,914 | 111.82% |
| Stoke-on-Trent | Stoke-on-Trent 032 | £110,554 | £233,671 | 111.36% |
And what do we do with this informationl’?
You must be logged in to like or dislike this comments.
Click to login
Don't have an account? Click here to register
If you operate in the North, clearly keep schtum!!
You must be logged in to like or dislike this comments.
Click to login
Don't have an account? Click here to register
Quite the opposite.
We operate in on the North for investors and shout it from the roof tops that the south has had the capital gains and with sentiment turning – Now is the time to invest in the north!
(you just have to know where)
You must be logged in to like or dislike this comments.
Click to login
Don't have an account? Click here to register