Mouseprice.com has just released data revealing the top ten areas in England and Wales that have experienced the largest falls in house prices in the last 12 months by using values derived from average AVM (automated valuation model) outputs for all properties within the postcode sectors at the specific point in time.
A clear pattern has emerged in the data, with 9 of the 10 areas listed in the rankings being located in the north of England, with only one entry located in the Midlands. All of the entries are located in urban and residential areas in a mixture of towns and cities. This shows that property price falls are not limited to areas with high proportions of buy-to-let investment properties, commonly seen in city centre developments.
Two of the entries have average values higher than the national average but the majority of entries contain listings with low average values. This suggests that falls in value can sometimes be determined by how expensive or desirable the properties are in an area.
The North West is the region that appears most frequently in the list, containing 4 of the postcode sectors. This is followed by the North East with 3 and then Yorkshire & the Humber with 2. The West Midlands appears once on the list.
The average values in the table above relate to the postcode sector rather than the specific street or area name. The names attached to each postcode sector are provided to give an indication as to where the area is located. This is a retrospective analysis that makes no prediction with regards to future price change.
Full research embedded below, which includes detailed area specific information.