Interactive map shows where house prices plummeting the most

Since the Bank of England (BoE) raised the base rate to a 14-year high in its bid to tackle inflation, demand in the overheated property market has begun to cool off. The latest data show average asking prices in some postcodes have been slashed by over £300,000. But what about your area? Find out if your home is on track to lose value in 2023 with’s interactive map.

Chris Hodgkinson, managing director of House Buyer Bureau, said: “We’ve seen house prices pushed to record highs during the pandemic, and with the market now cooling, it’s no surprise that property values are heading back down to earth. 

“Overall this return to reality has been a steady one but when analysing the market at a more granular level, there are certainly some areas where property values have really fallen through the floor in the wake of September’s mini-budget.”

Sales analysis by House Buyer Bureau has revealed the postcodes in which average asking prices have already tumbled the most over the past four months.

The value of homes in the GU25 district of Runnymede, Surrey, was found to have plummeted more than anywhere else in the UK – falling £315,368 from roughly £1.9million in September to £1.6million today.

Enter your postcode into our interactive map below to see how far house prices have fallen in your neighbourhood…

The second-largest asking price drop was found to be in the SO42 postcode of Hampshire’s New Forest – the average home in the district going from £1million to £781,257, a loss of £289,605.

This was followed by Worcester’s WR6 postcode (£143,804), Colchester’s CO8 district (£141,096), and KT24 addresses in Surrey (£135,092). 

However, price variations over the past few months haven’t impacted where the most expensive properties in the country are to be found: eight out of ten of the most expensive postcodes remained comfortably in the London boroughs of Westminster and Kensington and Chelsea.

More than simply holding their value, houses in a handful of postcodes actually increased in price in defiance of the national trend. The average home in Staffordshire’s ST12 district was found to be £133,430 pricier than in September.

The next-biggest gains were made in the EC3 postcode of Tower Hamlets, London (£127,113), followed by PA6 in Renfrewshire, Scotland (£123,733).

Mr Hodgkinson added: “While we don’t anticipate this rot to set in across the entirety of the market, those currently pondering a move are advised to sell their home quickly if they wish to secure anywhere close to the pandemic highs of the last two years.”

According to Halifax – the UK’s largest mortgage provider – house prices fell 2.3 percent in November – the largest drop since the 2008 financial crisis – and by a further 1.5 percent in December.

The exact figure varies, but there is near-universal consensus that house prices will continue their downward run throughout 2023. Halifax expects prices to sink by eight percent, while Nationwide and online estate agent Zoopla predict a fall of five percent.

The Government’s fiscal watchdog – the Office for Budget Responsibility – expects prices to fall nine percent over the next two years. In mid-December, Bank of England Deputy Governor Jon Cunliffe claimed UK house prices could fall by as much as a fifth without causing distress to most homeowners.

This post is originally appeared on Express UK

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