Tuesday, October 17, 2017

Mapping the UK's Falling House Prices

If you account for inflation then a majority of UK residential properties are selling less now than they were ten years ago. In fact house prices have fallen in real terms in more than half of UK neighborhoods since 2007.

The BBC has created an interactive map which shows where house prices have gone up and where they have gone down. The House prices: Have they actually gone up? map clearly shows that outside of London and the south-east most of the UK has seen in real terms a fall in house prices. This fall in house prices may also be coming to London. In the year to August the smallest increases in residential property were in the capital.

Of course knowing whether house prices have gone up or not doesn't really help you if you want to buy a house. What house hunters need to know is the cost of property in UK neighborhoods. In which case they need Anna Powell-Smith's House Prices Per Square Metre in England and Wales interactive map. This map shows the average price per square metre of properties in each postcode area. It is therefore a very handy way to find areas where you might be able to afford to buy a property.

The map includes a filter tool which allows you to filter the results shown on the map by the cost per square metre. If you know the range that you can afford or are willing to pay you can therefore use this filter tool to identify the areas within your comfort zone.

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