I downloaded the house price data for four counties in England: Nov 22 vs Nov 23 - here's the results of house price falls/gains

[KievLoverTwo]

Before you read the below information and panic/rejoice, bear in mind a few things:

Samples sizes below 10% are generally considered to not be wholly reliable; most of these are between 8.5 and 11%.

In a falling market, you may see more people who own big houses downsize, and fewer people who own flats or terraces not move; this can change the overall amounts quite drastically. We're in a market that's seeing far fewer transactions than for decades, and even the ONS who regularly release house price data says it can make data unreliable.

The only way to know what's happening with prices in your area is to do your own extensive research.

Median = the middle price of all the sales
Average = add all prices up, including silly prices, and divide them by number of sales

Median is usually the most reliable, but honestly nothing's all that reliable in falling market, so take everything with a pinch of salt.

I took these numbers for house sales in Nov 22 versus Nov 23; they represent one month of the year only.

NOTTINGHAMSHIRE

Detached average -3.76
Detached median -5.32
Semi average -3.55
Semi median -3.84
Terraced average -18.26
Terraced median -20
Flat average -0.79
Flat median + 6.66

SOUTH YORKSHIRE

Detached average -14.58
Detached median -9.67
Semi average +3.57
Semi median -2.94
Terraced average -15.15
Terraced median -11.53
Flat average +13.26
Flat median +6.03

COUNTY DURHAM*

Detached average +24.12
Detached median +6.36
Semi average -5.01
Semi median -3.22
Terraced average -22.06
Terraced median -18.75
Flat average +29.24
Flat median -1.42

*many government jobs are moving to Darlington

NORTH YORKSHIRE

Detached average -19.32
Detached median -12.91
Semi average +0.44
Semi median -2.46
Terraced average -1.3
Terraced median -14.54
Flat average +7.5
Flat median -16.66

I salute you as a fellow property geek @KievLoverTwo !

Your research into property prices in these areas is extensive. It shows a big variation depending on individual counties & type of property which really proves what we always say to people on here about the importance of doing plenty of research in your local area before offering on a property. It’s not enough just to read about general trends, though I find them interesting too.

Can I ask what is your main takeaway about what prices have done in the year in these 4 areas?

Hello, hello.

I will bump this thread with more data in the future.

I think it's quite simple: the areas which rose the fastest from 2020-2022 are now falling at the fastest pace.

Any area that has an increase in jobs will rise.

I am hearing the south east, south west and midlands are suffering the biggest falls.

They are also the areas that shot through the roof during COVID.

Sounds logical that the places that rose the steepest during the Covid madness will have further to fall to adjust to a more normal market.