Homeowners in the UK are getting more for their money, with house prices per square metre (sqm) back to pre-crash levels in all but one region of England and Wales. Ten years on from the financial crisis, how much are properties in your area worth?
Data from the Land Registry shows two more regions of England have finally recovered from the property market crash in 2008 – but one is still lagging behind.
Check out our interactive maps below to find out how your region and local authority compare with the rest of England and Wales.
- If you’re searching for your dream home, it can help to have a mortgage agreement in principle in place. For some impartial, expert advice on getting the right mortgage, call Which? Mortgage Advisers on 0808 252 7987.
House price recovery almost complete
House prices per sqm are now above their pre-crash peaks in every region of England and Wales – except the North East.
But for some parts of the UK, this recovery has been a recent phenomenon. In the North West, Yorkshire and The Humber and Wales, 2016 was the first year where prices finally outstripped their pre-crash levels.
House prices up by 60% in the capital
On average, house prices per sqm in England and Wales increased by 15.44% between their peaks in 2007 and the end of 2016 – though a large proportion of this growth took place in the capital.
Since 2007, house prices per sqm in London have increased from £5,600 to £8,323 – a staggering 63% growth. This means that a square metre of property in the capital now costs more than double the price anywhere else in England or Wales.
Aside from London, the South East and East of England enjoyed rises of over 30% – a figure that may reflect London commuters being priced further out of the city.
|Region||House price growth per sqm 2007-2016|
|East of England||30.10%|
|Yorkshire & The Humber||4.42%|
What do houses cost in my area?
While this data provides an indication of how house prices are changing at a regional level, the truth is that prices fluctuate significantly from area to area.
With this in mind, it’s helpful to look at house prices at a more local level.
Check out the interactive maps below to find out how much per sqm a property in your local authority cost in 2016.
Where should I live?
If you’re thinking of moving home, you might have heard it’s all about ‘location, location, location’.
To help you on your way, we’ve put together some resources that will enable you to suss out local areas that interest you and keep track of properties you’ve viewed.
- Finding the best places to live
- How much is your house worth?
- Property viewing checklist
- Making an offer on a house
Your home may be repossessed if you do not keep up repayments on your mortgage.
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