Top 10 Most (and Least) Resilient Housing Markets Identified by Zoopla.co.uk

September 30, 2010 at 10:51 AM 1 comment

The Royal Crescent, Bath

It’s almost been 3 years since the housing market in England peaked in late 2007, so we decided to look at how each area has fared since the downturn began. What is clear from the findings (tables below) is  that some markets have weathered the storm far better than others and the north-south divide is very clear.

Average property values for England as a whole remain 8.7% below their peak levels of 3 years ago and now stand at £225,045, representing an average loss in value of £21,303 over the past 3 years, but are up by 11.2% over the past 18 months from the lows reached in March 2009.

Whilst the London property market has proven far more resilient than most with average house prices now only 3.5% below their September 2007 level, the area where house prices have bounced back strongest is Bath & NE Somerset where property values are now only 1.5% below where they were 3 years ago. At the other end of the scale, the country’s biggest loser is Lincolnshire where property prices remain 11.2% below their peak levels, despite having risen by more than 8% in the past 18 months from the March 2009 lows.

The property market in Oxfordshire came in third place in terms of the most resilient markets with home values now only 4.7% below where they were 3 years ago, followed closely by Warwickshire (down 4.78%) and Hertfordshire (down 4.9%) since September 2007. However, Nottinghamshire (down 11%), South Yorkshire (down 10.7%), Worcestershire (down 10.5%) and the West Midlands (down 10.4%) have not fared much better than Lincolnshire.

Top 10 Most Resilient Housing Markets

Rank Market Avg. home value 3-year change (%) 3-year change (£)
1 Bath & NE Somerset £287,332 -1.51% -£4,398
2 London £413,350 -3.45% -£14,785
3 Oxfordshire £300,642 -4.67% -£14,723
4 Warwickshire £213,314 -4.77% -£10,677
5 Hertfordshire £317,687 -4.90% -£16,368
6 West Sussex £269,774 -4.98% -£14,126
7 South Gloucestershire £384,102 -5.13% -£20,761
8 West Berkshire £298,439 -5.30% -£16,690
9 Hampshire £252,283 -5.35% -£14,249
10 Surrey £357,863 -5.49% -£20,795

Source: Zoopla.co.uk

Top 10 Least Resilient Housing Markets

Rank Market Avg. home value 3-year change (%) 3-year change (£)
1 Lincolnshire £155,580 -11.23% -£19,690
2 Nottinghamshire £137,949 -10.97% -£17,000
3 South Yorkshire £137,413 -10.66% -£16,396
4 Worcestershire £201,102 -10.52% -£23,632
5 West Midlands £160,502 -10.40% -£18,634
6 West Yorkshire £152,897 -10.19% -£17,345
7 Isle of Wight £193,639 -10.13% -£21,829
8 Northamptonshire £172,729 -10.09% -£19,379
9 Greater Manchester £151,946 -9.94% -£16,764
10 North Somerset £185,960 -9.50% -£19,517

Source: Zoopla.co.uk

As always, please feel free to share and use this information, all we ask is that you credit the source as Zoopla.co.uk and link to either Zoopla.co.uk or blog.zoopla.co.uk. Thank you.

Entry filed under: House Prices, Valuation. Tags: .

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1 Comment Add your own

  • 1. Ash The Newcastle Estate Agent  |  October 24, 2010 at 9:09 AM

    Hi
    I have found this a really informative site which being an estate agent i will keep coming back to. This site helps back up my own opinions of more local area information instead of the usual nationwide surveys we keep getting.
    Back Soon
    Ash
    Welcome Homes(north east)

    Reply

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