Editor's Pick

Revealed: The places where house prices haven’t soared in last 10 years

Christina Hoghton
Written By:
Christina Hoghton

One city has even seen a fall in property prices over the last decade

A new study has revealed that just one area in the UK has seen house prices fall over the last 10 years.

The City of Aberdeen is the worst performing part of the UK in terms of house price inflation, said PlumbNation, which explored the average cost of properties across 10 years in different parts of the country.

In 2012, the average house price in the city was £162,144, but fell to £144,197 in 2022, a drop of 11.07%.

Next in the list is the surrounding region of Aberdeenshire in Scotland, where values have risen by 15.52% over the last 10 years. This is the lowest increase in property prices 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 just £120,807 as of 2022.

The rest of the 10 worst-performing areas are as follows:

1. Aberdeen City, £144,197 (-11.07%)

2. Aberdeenshire, £201,758 (15.52%)

3. Inverclyde, £120,807 (20.25%)

4. Middlesbrough, £138,608 (26.44%)

5. Country Durham, £125,982 (28.84%)

6. Hartlepool, £131,067 (29.82%)

7. Stockton-on-Tees, £159,318 (29.98%)

8 Preston, £154,635 (30.60%)

9. Angus, £168,628 (31.45%)

10. Gateshead, £149,170 (31.89%)

High risers

The region with the biggest increase in house prices over the last decade is the East of England, where the average price rose from £193,628 in 2012 to £351,616 in 2022 – a hike of 81.59%

Sevenoaks has seen the biggest increase in its salary-price ratio in the last 10 years, meaning it is becoming less affordable the quickest.

In 2012, house prices there were around seven times the average salary, but this has doubled to 14 times average earning in 2022.