Some homes in the UK are now worth 44 per cent less than they were a decade ago, claims the estate agency comparison website GetAgent.
The site has analysed government agencies’ house price data for the period from the end of 2008 to the end of 2018 and discovers that areas of Liverpool have seen their average house prices fall 44.21 per cent from £116,821 to £65,178.
Areas of Bradford have seen falls of 39.42 per cent from £125,514 to £76,034, while in Hartlepool a 38.14 per cent price collapse in the past decade has seen the average house price in selected locations going from £97,532 to £60,338.
The top 10 best locations for house price growth are all located in London, with Camden leading the lot at a seismic 389.82 per cent in 10 years; meanwhile Lambeth sits in second place with 322.74 per cent growth followed by Kensington and Chelsea at 241.98 per cent.
The biggest growth outside London since late 2008 is Cambridge on 156.71 per cent, followed by Winchester and then Coventry.
"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” says Colby Short, GetAgent’s founder and chief executive.
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I live in Camden and these statistics look very suspect. Anyone check the data? Has the decimal point been put in the right place? The annualized compounded growth rate would need to be over 13% per annum. With a flat market for the past 4 or 5 years this seems impossible.
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