House prices down only in one quarter of postcodes - Propdex
Out of the 2,198 UK post codes only 515 saw prices fall significantly compared to last year, according to new research from Propdex.
There are 1,204 postcodes that have risen year-on-year and 479 that remain flat, though overall UK housing prices had risen by 3% in the last year in England and 4.2% in Wales but across the country there is a general tendency of lower house sales.
In London of its 231 postcodes, 74 are dragging down the entire city’s price index but at the same time there are still more postcodes with rising prices than falling.
The report highlights some postcodes that are notable risers among which are Hammersmith, Kent and Newham. Among the notable fallers the report points out Exeter, Calderdale and Birmingham.
Across the country, property prices in the fastest falling postcodes are 35% higher than in the fastest rising. According to the report the top end of the market is suffering as buyers hung for affordability.
Currently, there are 99 postcodes that have average prices below the £100,000.