EXPERTS from PlumbNation have explored how much the average cost of properties (per region) and how much the gap between house prices and annual wages have changed across 10 years in different parts of the country, to reveal the areas of the UK that are experiencing the biggest fall in house prices, and therefore becoming more affordable.
The city of Aberdeen ranks as the only area within the UK where house prices have fallen over the last 10 with a decrease of 11.07%. In 2012, the average house price in the city was £162,144, and now stands at £144,197 as of 2022. The city of Aberdeen in Scotland is the only area of the UK where average house prices have actually fallen over the last ten years.
Second in our findings is Aberdeenshire in Scotland, where values here have risen by 15.52% over the last 10 years, but coming out as the lowest increase in property prices. While house prices haven’t actually fallen, they have witnessed one of the lowest increases across the UK.
Inverclyde ranks third, with the second lowest 10-year price increase standing at 20.25%. The average house price in the western Glasgow area was £100,461 in 2012 and now stands at £120,807 as of 2022.
You can find the full study here: https://www.plumbnation.co.uk/blog/rising-regional-rates/
