More than 70 local authority areas have seen average house prices rise over the last year, bucking the national trend, according to new research released by Halifax.
The analysis – based on data from the Halifax House Price Index – looked at typical house prices in more than 300 Local Authority Areas across Britian in the three months up to September this year, and compared them to the equivalent figures from 2022.
At a UK level, house prices are down by -3.9% over the last year, with higher interest rates impacting on mortgage affordability, which has fed through to lower demand among would-be buyers.
However, that national picture masks some big variations in house price performance at a local level across the country, with a number of locations posting strong growth in property prices during 2023.
Top of the list is Powys, with annual house price growth of +17.4%. The largest but least densely populated county in Wales, it’s known for its villages and market towns, and features a stunning landscape of valleys and mountains, including most of Brecon Beacons National Park. Newtown, also known as ‘Y Drenewydd’ in Welsh, is the largest town in Powys.
Next is East Lindsey, which is also the area of England with the strongest property price inflation over the last year (+13.3%). Flanking the east coast of Lincolnshire, it’s home to the Lincolnshire Wolds, an Area of Outstanding Natural Beauty (AONB). It also features the award-winning Blue Flag beaches of Skegness, Mablethorpe and Sutton-on-Sea.
Making up the top three is Moray, which has seen the biggest increase in house prices in Scotland over the last year (+10.7%). Another largely rural area, it features an array of top golf courses and many of Scotland’s whisky distilleries. Also taking in part of the Cairngorms National Park, it’s equally famous for its colony of bottle-nose dolphins living in the Moray Firth.
These are the 10 local areas of Britain with the strongest house price growth over the last year:
| Local authority area | Nation/region | House price Q3 2022 | House price Q3 2023 | Annual % change | Annual £ change |
| Powys | Wales | £216,307 | £253,958 | +17.4% | £37,651 |
| East Lindsey | East Midlands | £194,533 | £220,421 | +13.3% | £25,888 |
| Moray | Scotland | £162,258 | £179,606 | +10.7% | £17,347 |
| Babergh | Eastern England | £317,383 | £349,965 | +10.3% | £32,583 |
| Sunderland | North East | £138,579 | £150,862 | +8.9% | £12,283 |
| Ealing | London | £494,100 | £531,127 | +7.5% | £37,027 |
| Westminster / City of London | London | £714,242 | £767,350 | +7.4% | £53,108 |
| Bolsover | East Midlands | £167,398 | £179,453 | +7.2% | £12,054 |
| Cumberland | North West | £165,346 | £176,470 | +6.7% | £11,124 |
| Rossendale | North West | £185,658 | £198,102 | +6.7% | £12,444 |
Kim Kinnaird, Director, Halifax Mortgages, said:
“There are multiple factors which can impact house prices in your local area, ranging from the mix of properties available and the extent of any new housing, to the quality of schools and abundance of job opportunities.
“What’s clear is that the UK housing market is not a single-entity that performs in a uniform way across the country, there are differences. While at a national level the current squeeze on mortgage affordability has seen property prices fall over the last year, in many regions there remain pockets of house price growth. While a limited supply of properties for sale could be a factor, this also suggests in some areas, local market activity – and demand among buyers – remains strong.
“Many of the places highlighted in our research also benefit from more remote or rural surroundings and incorporate areas of outstanding natural beauty. These are traits which continue to be desirable for prospective homeowners, bucking the trend of the wider performance of the housing market.”
These are the local areas with the strongest house price inflation in each region over the last year:
| Local authority area | Nation/region | House priceQ3 2022 | House priceQ3 2023 | Annual % change | Annual £ change |
| East Lindsey | East Midlands | £194,533 | £220,421 | +13.3% | £25,888 |
| Babergh | Eastern England | £317,383 | £349,965 | +10.3% | £32,583 |
| Ealing | Greater London | £494,100 | £531,127 | +7.5% | £37,027 |
| Sunderland | North East | £138,579 | £150,862 | +8.9% | £12,283 |
| Cumberland | North West | £165,346 | £176,470 | +6.7% | £11,124 |
| Moray | Scotland | £162,258 | £179,606 | +10.7% | £17,347 |
| Runnymede | South East | £439,825 | £462,301 | +5.1% | £22,476 |
| Torridge / West Devon | South West | £295,521 | £306,436 | +3.7% | £10,915 |
| Powys | Wales | £216,307 | £253,958 | +17.4% | £37,651 |
| Sandwell | West Midlands | £178,755 | £185,798 | +3.9% | £7,043 |
| Kingston upon Hull | Yorkshire and Humber | £121,289 | £127,523 | +5.1% | £6,234 |
Additional table – national and regional house price data:
| Nation/region | House price Q3 2022 | House price Q3 2023 | Annual % change | Annual £ change |
| East Midlands | £244,338 | £234,446 | -4.0% | -£9,892 |
| Eastern England | £340,779 | £325,393 | -4.5% | -£15,386 |
| Greater London | £552,193 | £525,678 | -4.8% | -£26,514 |
| North East | £170,394 | £167,196 | -1.9% | -£3,198 |
| North West | £228,504 | £223,007 | -2.4% | -£5,497 |
| Northern Ireland | £184,479 | £184,108 | -0.2% | -£371 |
| Scotland | £203,242 | £201,594 | -0.8% | -£1,648 |
| South East | £399,283 | £376,450 | -5.7% | -£22,834 |
| South West | £310,580 | £293,615 | -5.5% | -£16,965 |
| Wales | £222,543 | £214,585 | -3.6% | -£7,957 |
| West Midlands | £254,667 | £247,448 | -2.8% | -£7,219 |
| Yorkshire and Humber | £207,194 | £201,350 | -2.8% | -£5,844 |
| UK average | £292,410 | £281,082 | -3.9% | -£11,329 |
