2012 UK house price falls


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2012 UK house price falls

  1. 1. LARGEST PRICE FALLSMouseprice.com can today reveal the top ten areas in England and Wales which experiencedthe largest falls in house prices in the last 12 months. stSUMMARY TABLE Annual Postcode Average Average No of TransactionsRank Name price sector value 2010 value 2011 properties since 2000 change 1 City Road area, Newcastle NE1 2 £154,326 £140,587 -8.9% 1483 908 East Lancashire Road area, Croxteth, ast 2 Liverpool L11 0 £73,056 £68,191 -6.7% 731 138 3 Leeds Railway Station area LS1 4 £180,230 £168,973 -6.2% 1680 1390 4 Southwick area, Sunderland SR5 5 £76,595 £71,813 -6.2% 3927 1035 5 Newcastle Rail area, Newcastle NE1 3 £186,845 £176,176 -5.7% 642 701 6 Moorgate Road roundabout, Kirkby orgate L32 7 £76,365 £72,036 -5.7% 915 310 7 Moor Park area, Blackpool FY2 0 £112,220 £106,025 -5.5% 7100 4958 8 Willenhall Road area, Wolverhampton WV1 2 £89,844 £84,887 -5.5% 4375 1358 9 Norris Green, Liverpool L11 2 £74,806 £70,737 -5.4% 1807 364 10 Gleadless Valley area, Sheffield S14 1 £76,114 £72,318 -5.0% 4583 963A clear pattern has emerged in the data, with 9 of the 10 areas listed in the rankings beinglocated in the north of England. Number 8 WV1 2 is the only entry located in the Midlands. All f 8,of the entries to the list are located in urban and residential areas in a mixture of towns andcities. This shows that property price falls are not limited to areas with high proportions of buy-to-let investment properties, commonly seen in city centre developments. et propertiesTwo of the entries on the list have current average values which are higher than the nationalaverage (number 3 in the LS1 4 area and number 5 in the NE1 3 area). The majority of entries tothe list contain listings with low average values however. This suggests that falls in value can values,sometimes be determined by how expensive or desirable the properties are in an area area.
  2. 2. The North West is the region that appears most frequently in the list, containing 4 of thepostcode sectors. This is followed by the North East with 3 and then Yorkshire & the Humberwith 2. The West Midlands appears once on the list.The average values in the table above relate to the postcode sector rather than the specificstreet or area name. The names attached to each postcode sector are provided to give anindication as to where the area is located.AREA NAME:City Road area, Newcastle, NE1 2AREA DESCRIPTION/ BRIE SYNOPSIS: IEFThe postcode sector NE1 2 is located in Newcastle city centre, with Byker Bridge and railway raillines to the north and the River Tyne to the south. iverThe property here mostly consists of developments of flats. Modern, purpose built blocksinclude: Mariners Wharf and Lime Square. An example of a converted warehouse in the area isPandongate House.An example of a development in which property has sold for less than it was bought is Mariners iWharf on the Quayside.EXAMPLE OF WHAT IS ON SALE HERE AT THE MOMENT: Nhttp://www.mouseprice.com/property-for-sale/ref-10528573http://www.mouseprice.com/propertyFor Sale with: BridgfordsLocation: Thornton Street, Newcastle ,
  3. 3. Price: £140,000Link to area: http://goo.gl/EUydBAREA NAME:East Lancashire Road area, Croxteth, Liverpool, L11 0 LiverpoolAREA DESCRIPTION/ BRIEF SYNOPSIS: IEFThe postcode sector L11 0 is located close to Gilmoss Industrial Estate, in Croxteth, Liverpool Liverpool.The area can be found south west of the M57.The majority of sold properties in the area are terraced, with some semi-detached houses. propert detachedAn example of a street in which property has sold for less than it was bought for is Gillmoss iClose, L11 0BH.EXAMPLE OF WHAT IS ON SALE HERE AT THE MOMENT: N Mhttp://www.mouseprice.com/property-for-sale/ref-7923085http://www.mouseprice.com/propertyFor Sale with: WhitegatesLocation: Dodman Road, LiverpoolPrice: £77,000Link to area: http://goo.gl/AZZCx
  4. 4. AREA NAME:Leeds Railway Station area, Leeds, LS1 4AREA DESCRIPTION/ BRIEF SYNOPSIS: IEFThis area is located in central Leeds, with Leeds Railway Station to the south east, the A58 Inner eastring road to the east and the Leeds-Liverpool canal to the south.The property stock mostly consists of developments of flats, such as West Point. The flats sold inthe area are a mixture of new build and older developments.An example of a development in which property has sold for less than it was bought is West iPoint, on Wellington Street, LS1 4JJ.EXAMPLE OF WHAT IS ON SALE HERE AT THE MOMENT: XAMPLEhttp://www.mouseprice.com/property-for-sale/ref-10558955http://www.mouseprice.com/propertyFor Sale with: Hudson Moody WassLocation: Wellington Street, Leeds ,Price: £154,950Link to area: http://goo.gl/9nk4V
  5. 5. AREA NAME:Southwick area, Sunderland, SR5 5AREA DESCRIPTION/ BRIEF SYNOPSIS: IEFThe postcode sector SR5 5 is located in the northern edge of Sunderland. The area is residential,with Sunderland Enterprise Park to the south and Sunderland Shopping Centre to the southeast. Newcastle Road can also be found to the east.The sold properties in SR5 5 are a mixture of terraced and semi-detached. An example of a detached.street in which property has sold for less than it was bought in SR5 5 is Redmond Square. SquareEXAMPLE OF WHAT IS ON SALE HERE AT THE MOMENT: N Mhttp://www.mouseprice.com/property-for-sale/ref-888289http://www.mouseprice.com/propertyFor Sale with: Good Life Estate AgentsLocation: Rawdon Road, Sunderland ,Price: £89,950Link to area: http://goo.gl/v07A4
  6. 6. AREA NAME:Newcastle Rail area, Newcastle, NE1 3AREA DESCRIPTION/ BRIEF SYNOPSIS: IEFNE1 3 is situated in the heart of Newcastle with Newcastle Central Station to the west. It is Newcastle, westlocated a mile and a half away from NE1 2, the area with the largest price fall in England andWales.Flats make up the vast majority of the housing stock in the area. An example of a street in which arproperty has sold for less than it was bought in NE1 3 is Hanover Street.EXAMPLE OF WHAT IS ON SALE HERE AT THE MOMENT: N Mhttp://www.mouseprice.com/property-for-sale/ref-8472619http://www.mouseprice.com/propertyFor Sale with: Living SpacesLocation: Hanover Mill, NewcastlePrice: £124,950Link to area: http://goo.gl/AgQXT
  7. 7. AREA NAME:Moorgate Road roundabout, Kirkby, L32 7AREA DESCRIPTION/ BRIEF SYNOPSIS: IEFThis area is located in the south of Kirkby, with Kirkby Golf Course in the north west andKnowsley Industrial Park to the East. The area is under a mile away from L11 0, the area that has East 0seen the second largest fall in property prices.Sold properties in the area consist mainly of terraces and semi-detached houses. An example of detacheda street in which property has sold for less than it was bought in L32 7 is Roughdale Avenue. itEXAMPLE OF WHAT IS ON SALE HERE AT THE MOMENT: N Mhttp://www.mouseprice.com/property-for-sale/ref-9759640http://www.mouseprice.com/propertyFor Sale with: Express Estate AgencyLocation: Dalry Crescent, LiverpoolPrice: £89,950Link to area: http://goo.gl/BonM7
  8. 8. AREA NAME:Moor Park area, Blackpool, FY2 0AREA DESCRIPTION/ BRIEF SYNOPSIS: IEFFY2 0 is located in the north of Blackpool, close to Moor Park and the North Shore Golf Course.The area is about a mile from the sea.The houses sold in the area tend to be semi-detached or detached, with some flats. An exampleof a street in which property has sold for less than it was bought i Valentia Road, FY2 0RW. isEXAMPLE OF WHAT IS ON SALE HERE AT THE MOMENT: N Mhttp://www.mouseprice.com/property-for-sale/ref-10087815http://www.mouseprice.com/propertyFor Sale with: Metcalf Estate AgentsLocation: Inver Road, BlackpoolPrice: £129,950Link to area: http://goo.gl/bgWr1
  9. 9. AREA NAME:Willenhall Road area, Wolverhampton, WV1 2AREA DESCRIPTION/ BRIEF SYNOPSIS: IEFWV1 2 can be found in East Wolverhampton, in the area in and around Willenhall Road, north of illenhallBirmingham New Road.Houses sold in the area are predominantly terraced or semi-detached. An example of a street in xamplewhich property has sold for less than it was bought is Plascom Road, WV1 2DQ. i 2DQEXAMPLE OF WHAT IS ON SALE HERE AT THE MOMENT: N Mhttp://www.mouseprice.com/property-for-sale/ref-10136624http://www.mouseprice.com/propertyFor Sale with: Dixons Estate AgentsLocation: Essington Way, WolverhamptonPrice: £100,000Link to area: http://goo.gl/d6PFA
  10. 10. AREA NAME:Norris Green, Liverpool, L11 2AREA DESCRIPTION/ BRIEF SYNOPSIS: IEFL11 2 is located in the north east of Liverpool, in Norris Green. Gillmoss Industrial Estate is to the Greennorth, while Norris Green Park is to the south. Croxteth Country Park is to the east. The area isvery close to number 2 and 6 in the rankings, L11 0 and L32 7.Houses sold in the area are mainly semi-detached with some detached properties and flats.Sandway Crescent, L11 2SN is an example of a street in which property has sold for less than it thwas bought.EXAMPLE OF WHAT IS ON SALE HERE AT THE MOMENT: N Mhttp://www.mouseprice.com/property-for-sale/ref-8168154http://www.mouseprice.com/propertyFor Sale with: WhitegatesLocation: Carr Lane, Liverpool ,Price: £69,950Link to area: http://goo.gl/KB815
  11. 11. AREA NAME:Gleadless Valley area, Sheffield, S14 1AREA DESCRIPTION/ BRIEF SYNOPSIS: IEFS14 1 is situated in a leafy residential area in the south of Sheffield, close to Graves Park andLees Hall Golf Club.The properties sold in the area are predominantly flats and terraced houses, with somedetached homes.An example of a street in which property has sold for less than it was bought for in the area isBlackstock Road, S14 1GAEXAMPLE OF WHAT IS ON SALE HERE AT THE MOMENT: N Mhttp://www.mouseprice.com/property-for-sale/ref-4308515http://www.mouseprice.com/propertyFor Sale with: William H Brown :Location: Spring Close Mount, Sheffield MountPrice: £66,900Link to area: http://g.co/maps/qwrbn
  12. 12. METHODOLOGYThe latest research from Mouseprice.com reveals the top ten localities where average valueshave fallen the most over the last 12 months. Average values are derived from the average AVM(automated valuation model) output for all properties within the postcode sectors at thespecific point in time. AVM technology uses a combination of actual sales and surveyor data.Anecdotal evidence of areas with greater price falls can be misleading if it is based on either greatersingle instances of repossession or cases where the owners have not yet sold (i.e. have yet tocrystallise their losses).This is a retrospective analysis that makes no prediction with regards to future price change. toABOUT MOUSEPRICE.COM .COMPlease attribute research to Mouseprice.com and include a link to http://www.mouseprice.comwhere appropriate. Mouseprice.com is a property portal that also provides free home valuationson every property in the country.Mouseprice.com could be described in the following ways:"Analysis conducted by Mouseprice.com, provider of free instant online valuation estimates forresidential properties in England Wales and parts of Scotland" England,"Mouseprice.com is a source of property market information for home movers and noseyneighbours alike. The website enables you to find out for free what properties in your area havesold for, an estimate of what they are worth and contains statistics on how property prices havechanged."PRESS ENQUIRIESMouseprice has a wealth of data and technical expertise enabling us to track various propertymarket trends. If you require any property related information or comment, please feel free tocontact us using the following details:James LawsCommunications ManagerTel: 0207 538 8888Email: information@mouseprice.com