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UK house prices: postcodes mapped

UK house prices: postcodes mapped

As we approach the end of the year, it seems that a new index for house prices in the UK is published on an almost daily basis. Today's offering comes from Barclays Mortgages and, rather than analysing the performance of regions or cities, it looks at the best performing postcodes across the country. Its contents are frankly fascinating, tending to prove the point that, when we speak of the UK housing market, we are really referring to hundreds of distinct markets up and down the UK, each with their own idiosyncrasies. It also highlights how misleading are some of our perceptions of the key drivers of house price growth. Ladywood in Birmingham, for example, is identified in official statistics as suffering from some of the highest levels of poverty in Britain and the area typically performs badly in quality of life indices. The area does, however, boast the fastest rising property prices of any UK postcode. In this Nethouseprices article, we set out the detail of the report and ask what inferences we can draw from it.

Barclays Postcode Property Index

The following is the league table of top performing postcodes across the UK. It was collated using Land Registry sold prices and research from property analytics company Hometrack.

1. Birmingham, B16 - Ladywood

- Average house price = £174,498.
- Price growth in year to September = 17 per cent.
- Average price growth in city = 5 per cent.

2. Edinburgh, EH2 - Holyrood

- Average house price = £325,595.
- Price growth in year to September = 14 per cent.
- Average price growth in city = 7 per cent.

3. Glasgow, G3 - Finnieston

- Average house price = £183,298.
- Price growth in year to September = 14 per cent.
- Average price growth in city = 5 per cent.

4. Manchester, M11 - Openshaw

- Average house price = £105,832.
- Price growth in year to September = 13 per cent.
- Average price growth in city = 7 per cent.

5. Hull, HU1 - Central Hull

- Average house price = £97,742.
- Price growth in year to September = 13 per cent.
- Average price growth in city = 4 per cent.

6. Bradford, BD3 - Barkerend

- Average house price = £85,978.
- Price growth in year to September = 11 per cent.
- Average price growth in city = 3 per cent.

7. Leicester, LE18 - Wigston

- Average house price = £177,263.
- Price growth in year to September = 9 per cent.
- Average price growth in city = 4 per cent.

8. Coventry, CV1 - Bishopsgate Green

- Average house price = £139,698.
- Price growth in year to September = 8 per cent.
- Average price growth in city = 7 per cent.

9. Bristol, BS1 - Bristol

- Average house price = £276,242.
- Price growth in year to September = 8 per cent.
- Average price growth in city = 4 per cent.

10. Nottingham, NG11 - Ruddington

- Average house price = £162,436.
- Price growth in year to September = 8 per cent.
- Average price growth in city = 5 per cent.

11. Belfast, BT5 - East Belfast

- Average house price = £123,527.
- Price growth in year to September = 7 per cent.
- Average price growth in city = 3 per cent.

12. Sheffield, S3 - Neepsend

- Average house price = £113,359.
- Price growth in year to September = 7 per cent.
- Average price growth in city = 3 per cent.

13. Leeds, LS2 - Woodhouse

- Average house price = £151,391.
- Price growth in year to September = 7 per cent.
- Average price growth in city = 4 per cent.

14. Liverpool, L21 - Litherland

- Average house price = £99,417.
- Price growth in year to September = 7 per cent.
- Average price growth in city = 3 per cent.

15. Brighton, BN41 - Portslade

- Average house price = £305,564.
- Price growth in year to September = 6 per cent.
- Average price growth in city = 2 per cent.

16. London, E5 - Clapton

- Average house price = £541,800.
- Price growth in year to September = 6 per cent.
- Average price growth in city = 2 per cent.

17. Wakefield, LS26 - Central Wakefield

- Average house price = £176,522.
- Price growth in year to September = 5 per cent.
- Average price growth in city = 3 per cent.

18. Cardiff, CF24 - Adamstown

- Average house price = £170,385.
- Price growth in year to September = 4 per cent.
- Average price growth in city = 3 per cent.

19. Newcastle, NE15 - Heddon-on-the-Wall

- Average house price = £112,830.
- Price growth in the year to September = 4 per cent.
- Average price growth in city = 2 per cent.

20. Sunderland, NE35 - Boldon

- Average house price = £112,830.
- Price growth in year to September = 4 per cent.
- Average price growth in city = 1 per cent.

Nethouseprices view

There is sufficient data in the preceding table to write a thesis and, in an upcoming feature, we will revisit aspects of the study. In the available space, however, there are some important observations to be made. Firstly, to the extent that the figures do conform to a wider trend, they do highlight London's waning star and, possibly, the migration of both human and financial capital to other cities. At the same time, they demonstrate yet again that some formerly unloved parts of the capital - like Clapton - are enjoying a renaissance. Secondly, people seem to be buying homes and investing in property in more affordable areas where they can, to put it bluntly, get more bang for their real estate buck. This is delivering a real boost to local property markets like, for example, Ladywood. Finally, while the latest overall figures for Scotland as a whole were disappointing, showing a small decline in average price growth, the Barclays research indicates that Edinburgh and Glasgow are emerging as some of the most exciting housing sectors in Britain, and that some pockets of these cities are faring even more impressively.

We hope you have found this Nethouseprices feature useful and that we will see you again soon for our updates on house prices in the UK, the private rental sector and housing policy.

You can also sign up to our newsletter and join Nethouseprice’s community of over 190,000 members who get regular property tips, relevant offers and news, click here  http://nethouseprices.com/auth/user-register

Source: Nethouseprices 29/11/17

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