Pandemic property hotspots revealed

Published on

The UK’s pandemic property hotspot, according to Land Registry data analysed by Andrews Property Group, is Liverpool.

Average house prices in Liverpool have increased 16.7% since March 2020, when we went into lockdown for the first time.

The estate agency analysed the latest UK HPI data to identify the UK’s pandemic house price winners and losers, looking at property price growth since March 2020, across more than 100 major towns and cities.

The top four property hotspots are all cities or towns in the North West – Liverpool (16.7%), Oldham (15.7%), Burnley (15.2%) and Blackburn (14.2%).

In total, 19 UK towns and cities have seen double digit house price gains since March 2020, with prices up 13% in Manchester.

Average property prices in London have only increased by 3.7% over the same period, although price growth varies widely across boroughs – with average prices up 14.4% in Haringey and 11.4% in Brent, but down 6.5% in the City of London and 5% in the borough of Westminster.

Only four major UK towns have seen negative house price growth since March 2020 – Stratford-upon-Avon (-2.5%), Cambridge (-1.7%), Hartlepool (-0.7%) and Gosport (-0.1%).

In Scotland, average house prices in Glasgow have increased 13.2% since March 2020, compared to just 2.7% in Edinburgh and 2.9% in Aberdeen. In Wales, average property prices are up 8.5% in Swanseas and 7.2% in Cardiff.

David Westgate, group chief executive of Andrews Property Group, said: “Considering the economic and social challenges we’ve faced since the country went into national lockdown for the first time last March, the UK property market has proved itself to be extremely resilient in the face of adversity.

“The stamp duty holiday introduced in July has smoothed the bumps and helped fuel house price growth, turbo-charging the property market in the second half of 2020. We saw a buyer frenzy, with people looking to take advantage of stamp duty savings up to £15,000. That, coupled with continued low stock in many areas, has supported prices.”

COMMENT ON MORTGAGE SOUP

We want to hear from you!
Leave a comment and get the conversation started.
You need to register to post, so please login or sign up below.

Latest articles

Investors turn to refurbishment finance as funding becomes cheaper

Property investors are increasingly turning to refurbishment finance to accelerate renovation projects and mitigate...

Vida enhances affordability criteria and launches new BTL range

Vida Homeloans has introduced a significant overhaul to its residential affordability assessments. The change is...

Barclays reduces residential purchase and remortgage rates

Barclays is introducing further reductions across its residential mortgage range, with revised rates taking...

Mortgage market begins to stir as approvals rise in May

Mortgage lending staged a modest recovery in May, according to new data from the...

Leasehold reform one year on: ‘confusion, delay and unintended consequences’

One year after the Leasehold and Freehold Reform Act 2024 received Royal Assent, property...

Latest opinions

How product transfers can help landlords and brokers in a challenging market

In an ever-changing buy-to-let market, the task of managing a property portfolio becomes increasingly...

Finding the ‘yes’ on finance for trading businesses

Pressure on UK trading businesses continues to mount, driven by rising costs, tight cash...

Bridging finance for refurbishment – is it light, medium or heavy?

Not all refurbishment projects are created equal. The type of works being undertaken will...

Complaints: A pain that you can handle

One of the biggest problems an adviser can face is a complaint. And those...

Other news

Investors turn to refurbishment finance as funding becomes cheaper

Property investors are increasingly turning to refurbishment finance to accelerate renovation projects and mitigate...

Vida enhances affordability criteria and launches new BTL range

Vida Homeloans has introduced a significant overhaul to its residential affordability assessments. The change is...

Barclays reduces residential purchase and remortgage rates

Barclays is introducing further reductions across its residential mortgage range, with revised rates taking...