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[BUSINESS] · United Kingdom · 8 sources

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UK house prices falling in 35% of postcode areas

UK housing market Zoopla House Price Index property prices mortgage rates real estate trends

According to the latest House Price Index from Zoopla, more than a third (35%) of homes in the UK are located in postcode areas where property values have fallen over the past year. This represents a significant increase from the 12% share recorded a year ago.

Price declines are most heavily concentrated in London and the South East, where 85% of homes are estimated to be in postcode areas experiencing falls. In London, average home values have decreased by 1%. Conversely, the average UK house price has risen by 0.8% year-on-year to £273,100, with growth seen in regions such as the North West and Scotland.

Zoopla attributes these shifts to higher mortgage costs, which have made buyers more selective, and an increase in the number of homes for sale, which is up 7% compared to last year. This increased supply has provided buyers with more room to negotiate on prices.

Entities

London · Richard Donnell · United Kingdom · Zoopla

Sources

35% of homes are in postcode areas where house prices are falling, says Zoopla [www.rotherradio.co.uk]
Prices falling in a third of postcode areas - Property Investor Today [www.propertyinvestortoday.co.uk]
Prices slump in London and South East - Zoopla [thenegotiator.co.uk]
House price falls spread as growing supply puts sellers under pressure [propertyindustryeye.com]
House prices falling in more than a third of UK postcode areas – Zoopla [theintermediary.co.uk]
35% of homes are in postcode areas where house prices are falling, says Zoopla [news.stv.tv]
35% of homes are in postcode areas where house prices are falling, says Zoopla [www.independent.co.uk]
35% of homes are in postcode areas where house prices are falling, says Zoopla [www.standard.co.uk]