In July 2009, UK housing prices were rising in 76 out of the 111 counties/unitary authorities in the country, according to data published by the UK Land Registry. Furthermore, house prices remained stable in another eight counties/unitary authorities.
According to the Land Registry data, the top five counties/unitary authorities in terms of monthly house price increases include, in ranking order, Conwy, Wrexham, Shropshire, City of Bristol and City of Derby which registered price gains of 2% or more.
In particular, Conwy and Wrexham registered monthly house price increases of 3.7% and 3.1%, respectively, while Shropshire, City of Bristol and City of Derby registered house price gains of 2.3%, 2.2%, and 2.0%, respectively.
South Gloucestershire, Monmouthshire, the Vale of Glamorgan, Bournemouth and Greater London (in ranking order) complete the list of the 10 top residential markets in UK in July 2009, as they registered monthly house price increases ranging between 1.6% and 1.9% (see graph below for exact increases that took place in these markets).
Trends in UK Housing Prices, July 2009: Top Ten Counties/Unitary Authorities
Sources: UK Land Registry,Property-Investing.Org
It should be noted though, that on an annual basis all of the above 10 markets were still below their July 2008 levels. For example, Bournemouth, South Gloucestershire and City of Bristol were still 16.2%, 15.2% and 14.6%, respectively, below their July 2008 levels, while The Vale of Glamorgan and Shropshire were still 8.9% and 9.1%, respectively, below their July 2008 levels.
UK housing prices registered by far their worst monthly performance in the counties of Neath Port Talbot and Merthyr Tydfil, where they dropped -7.4% and -5.8%, respectively, in July 2009. Carmarthenshire, Blackburn with Darwen and Blaenau Gwent, with price declines of -3.2%, -3.0%, and -2.3%, respectively, complete the list of the five worst performing markets in July 2009 (see graph below of 10 worst performing areas in July 2009).
Trends in UK Housing Prices, July 2009: Ten Worst Counties/Unitary Authorities
Sources: UK Land Registry,Property-Investing.Org
In terms of UK housing price changes in the country's metropolitan districts, it is worth noting that prices increased in 17 out of the 36 areas covered by the data, while they decreased in other 17 districts.
The top three metropolitan districts in terms of monthly house price gains in July 2009 include, in ranking order, Calderdale, Trafford and Sandwell, where prices increased 3.2%, 2.4% and 1.8%, respectively (see graph below for top ten metropolitan districts). House prices in these areas though were still at least 12% below their July 2008 levels.
Top Ten Metropolitan Districts in Terms of Monthly House Price Increases in July 2009
Sources: UK Land Registry,Property-Investing.Org
The three worst performing metropolitan districts in terms of monthly house price losses in July 2009 include, in ranking order, Barnsley, Liverpool and Salford, where prices dropped -3.9%, -2.6% and -2.2%, respectively (see graph below for top worst performing metropolitan districts).
The question is whether the momentum of rising prices in the best performing markets will continue in the coming months or whether it will reverse.
Ten Worst Metropolitan Districts in Terms of Monthly House Price Declines in July 2009
Sources: UK Land Registry,Property-Investing.Org
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