The value of a home in south-east England has dropped by £15,500 over a year after the region recorded the sharpest fall in house prices in July.
Halifax, the High Street lender, said average house prices in the area, which includes the home counties, fell 3.9%.
House prices in Wales, once the beneficiary of the pandemic “boom”, also tumbled.
House prices in Wales, once the beneficiary of the pandemic “boom”, also tumbled.
It said average prices fell by 2.4% in the year to July, valuing a typical home at £285,044. That is slower than the 2.6% decline recorded in the year to June.
Despite the falls, prices remain much higher than before the Covid pandemic.
Some regions saw sharper drops than others. The value of a home in south-east England dropped to £382,489 in July.
Wales, which Halifax said had seen “some of the most rapid growth in house prices witnessed during the pandemic ‘boom'”, recorded one of the largest annual falls at 3.3% to £214,495.
Greater London also saw prices drop by 3.5% in July, but the average price is much higher at £531,141 compared to other regions.
The value of a home in south-east England has dropped by £15,500 over a year after the region recorded the sharpest fall in house prices in July.
House prices in Wales, once the beneficiary of the pandemic “boom”, also tumbled.
Halifax, the High Street lender, said average house prices in the area, which includes the home counties, fell 3.9%.
It said average prices fell by 2.4% in the year to July, valuing a typical home at £285,044. That is slower than the 2.6% decline recorded in the year to June.
House prices in Wales, once the beneficiary of the pandemic “boom”, also tumbled.
House prices in Wales, once the beneficiary of the pandemic “boom”, also tumbled.
It said average prices fell by 2.4% in the year to July, valuing a typical home at £285,044. That is slower than the 2.6% decline recorded in the year to June.
Despite the falls, prices remain much higher than before the Covid pandemic.
Some regions saw sharper drops than others. The value of a home in south-east England dropped to £382,489 in July.
Wales, which Halifax said had seen “some of the most rapid growth in house prices witnessed during the pandemic ‘boom'”, recorded one of the largest annual falls at 3.3% to £214,495.
Greater London also saw prices drop by 3.5% in July, but the average price is much higher at £531,141 compared to other regions.
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