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Editor's Pick

House price winners and losers in 2020

Christina Hoghton
Written By:
Christina Hoghton
Posted:
Updated:
31/12/2020

Which places have seen double-digit house price growth, and where have property values fallen?

The 20 biggest house price ‘winners’ of 2020 have seen the value of properties jump by an average of 10% across the UK, according to Halifax.

Those living in parts of London as well as Yorkshire, the West Midlands and northern Scotland have seen the biggest percentage increases over the past 12 months.

In London’s trendy Islington district, the average property price jumped 13.4% (£85,918) this year, more than double the average percentage growth in the Greater London area (6%) with an average sale price of £727,922.

This was followed by Croydon which has enjoyed a 10.9% increase (£39,117).

Outside the capital, Leeds has seen the second greatest increase of 11.3% (£25,024) in average house price this year, edging past the regional average of 9% across Yorkshire and Humberside. This is followed by Wolverhampton where homes now cost 9.5% more (£18,975) at an average of £217,837.

Top 20 house price winners

  1. Islington – 13.4%
  2. Leeds – 11.3%
  3. Croydon – 10.9%
  4. Wolverhampton – 9.5%
  5. Hounslow – 9.1%
  6. Doncaster – 8.8%
  7. Inverness – 8.1%
  8. Bournemouth – 7.7%
  9. Watford – 7.7%
  10. Romford – 7.6%
  11. Grimsby – 7.5%
  12. Richmond Upon Thames – 7.5%
  13. Kingston Upon Thames – 7.4%
  14. Bolton – 7.1%
  15. Belfast – 7.1%
  16. Lambeth – 7.0%
  17. Sutton – 6.9%
  18. Newcastle Upon Tyne – 6.6%
  19. Hillingdon – 6.3%
  20. Edinburgh – 6.0%

Slowest house price growth

Paisley in Scotland is the biggest faller this year, having seen house prices cool by 1.7% (£2,448).

It’s followed by Hackney which has become £9,843 (1.5%) cheaper, compared to the previous year.

Aberdeen in the north and Falkirk in central Scotland have seen house price falls of 1.4% (£2,761) and 0.8% (£1,484), coming in at third and fourth in the UK overall. Buyers can expect to pay around £200,810 for a home in Aberdeen or £175,789 in Falkirk.

Merton and Greenwich – in Greater London – sit in fifth and sixth place on the list, with dips of 0.6% (£3,385) and 0.2% (£899) respectively.

House price losers

  1. Paisley: -1.7%
  2. Hackney: -1.5%
  3. Aberdeen: -1.4%
  4. Falkirk: -0.8%
  5. Merton: -0.6%
  6. Greenwich: -0.2%
  7. Tower Hamlets: 0.5%
  8. Bedford: 0.7%
  9. Ipswich: 0.8%
  10. Dunfermline: 1.1%
  11. Halifax: 1.6%
  12. Wirral: 1.6%
  13. Bradford: 1.7%
  14. Glasgow: 2.1%
  15. Cardiff: 2.9%
  16. Haringey: 3.3%
  17. Southampton: 3.4%
  18. Wandsworth: 3.4%
  19. Dundee: 3.5%
  20. Barnsley:3.6%

Russell Galley, Halifax’s managing director, said: “Much like many other things about 2020, it would have been hard to predict which areas would see the greatest movement in average house prices this year. For example, depending on the borough, you could be looking at the biggest price rise or the biggest falls in the capital.

“House prices have leapt by more than 11% in Yorkshire’s great cosmopolitan city of Leeds and almost 10% in Wolverhampton at the heart of the Black Country.

“Further North, Doncaster and Inverness have also seen healthy growth and whilst the overall house price trend this year has been upward, anyone looking to buy in Paisley, Hackney, or Aberdeen will find homes cost a little bit less than last year.”