With mortgage rates under increasing strain, all eyes are on the property market to see whether house prices will continue to rise. And new figures pinpoint the neighbourhoods of England where average sale prices are increasing and falling the fastest.
The latest data from the UK House Price Index shows the average UK house price was £286,500 in April 2023, a slight rise from the previous month but £6,500 below the £293,000 all-time high recorded in September 2022.
The Office for National Statistics also divides England into thousands of smaller areas known as middle-layer super output areas. It has released new house price figures for each of these neighbourhoods for the calendar year 2022.
This allows us to pinpoint the suburbs, towns and villages which have seen house prices rise and fall the most since the previous year.
Here are the areas of Liverpool which have seen the biggest fall in average sale prices in 2022, compared with 2021.
5. Princes Park
The area saw prices fall by 7.7% in a year, with average properties selling for £138,500 in 2022, compared to £150,000 in 2021. | Yui Mok Photo: Yui Mok
6. Croxteth Park
The area saw prices fall by 7% in a year, with average properties selling for £179,500 in 2022, compared to £193,000 in 2021. | Google Earth
7. Dovecot
The area saw prices fall by 5.5% in a year, with average properties selling for £155,000 in 2022, compared to £164,000 in 2021. | F-Stop Boy - stock.adobe.com Photo: F-Stop Boy - stock.adobe.com
8. Chinatown, St James & Georgian Quarter
The area saw prices fall by 5% in a year, with average properties selling for £142,450 in 2022, compared to £150,000 in 2021. | Image: Google street view Photo: Google Street View