UK housing market shows regional divide in price growth

Recent data from HM Land Registry and Rightmove reveal diverging trends in the UK housing market. While average UK house prices rose by £5,000 in the year to June, growth has slowed compared to earlier in the year.

Commuter hubs around Glasgow and Manchester are experiencing the highest price growth. Falkirk in Stirlingshire recorded the largest increase at 13.5%. Many of these high-growth areas are more affordable, with 12 of the top 15 fastest-growing locations priced below £250,000.

In contrast, more expensive commuter areas in the south are seeing price declines. Haywards Heath in Sussex saw the largest annual drop at 4.8%, followed by Maidenhead and Bath. London's market also shows significant variation; while the capital's average asking prices fell by 3.1%, the City of Westminster saw a sharp 25.4% decrease in property values over the past year.

Experts suggest that buyers are increasingly seeking value in northern commuter towns, while higher mortgage rates have impacted buying power in other sectors.