It has been a spooky year for some UK homeowners. Brexit and a snap election brought about an uncertain market, with some seeing the price of their property fall in line with a lack of buyer demand.
With Halloween upon us – and the ghastly things that come along with it, research from eMoov highlights the areas of the UK that have suffered the scariest property price drops over the past year.
1. Aberdeenshire: -5.69 per cent
Topping the list is Scotland’s Aberdeenshire. It suffered the frightening price drop of -5.69 per cent. Although property values remain lower in Scotland than the UK’s average, this area of Northern Scotland has been hardest hit in the last year, with average property prices of £188,876. This is largely due to the continued economic slump from a decline in the oil industry.
2. City of London: -5.59 per cent
House prices in the capital have taken a spine-chilling turn over the past year, because of inflated property prices. Although prices are still averaging £800,802, it has suffered a price drop of -5.59 per cent.
3. Hartlepool: -5.35 per cent
Durham’s Hartlepool follows closely behind with a fall of -5.35 per cent, dropping the average house price to £100,957.
4. City of Aberdeen: -4.81 per cent
Keeping up with the wider area, the largest city in the region has seen a spooky drop in property prices this year down -4.81 per cent to £167,903.
5. Halton: -4.62 per cent
Heading back to England, Cheshire’s Halton has suffered a haunting drop in value of -4.62 per cent, slumping prices to £127,003.
6. Middlesbrough: -3.21 per cent
North Yorkshire’s Middlesbrough saw property prices fall by -3.21 per cent over the last year to an average house value of £108,904.
7. Rhondda Cynon Taf: -3.14 per cent
Wales’ darkest price decline was -3.14 per cent in the south, dropping the average property value to £101,675.
8. Carlisle: -2.98 per cent
In Cumbria, Carlisle prices have trickled down -2.98 per cent, leaving with it an average price of £129,425.
9. City of Westminster: -2.46 per cent
Another contender in the capital, prime central London’s City of Westminster experienced a grim -2.46 per cent drop in property values to a devilish £962,510.
10. Hyndburn: -2.46 per cent
Property prices also fell a gruesome -2.46 per cent to £93,628 in Lancashire’s Hyndburn.
It seems there are no treats, but only tricks where property is concerned.
