The micro-markets in Britain where house prices are far less than they were ten years ago

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%

 

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3 Comments

  1. RedRebel

    And what do we do with this informationl’?

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    1. Property Pundit

      If you operate in the North, clearly keep schtum!!

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      1. anon-mon73

        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)

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