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House prices drop in Aberdeen amid national rise

Average house prices in Aberdeen dropped by 10.2% in the year to January 2017, according to the latest figures from the Office for National Statistics.

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The statistics, published today, reveal that Aberdeen was by far the area with the biggest dent on house prices in the UK, with the average price sinking from £182,000 to £163,000. The next biggest faller in Scotland was Inverclyde at 5.3%.

Middlesbrough recorded England’s sharpest drop, decreasing 6% in the 12 months to January, from £112,533 to £105,754.

In London, there was also a sign of a further cooling in the prime central London residential market, with average prices dropping by 0.8%, from £1,024,000 to £1,016,000. In the previous month’s statistics, Westminster’s prices had risen by 1.2% in the space of 12 months.

Other local authority areas that reported a lowering in house prices were concentrated particularly in Scotland, with areas including the Orkney Islands and West Dunbartonshire also reporting significant drops.

In Scotland overall, prices grew at a rate of 4%. The annual price change in England was 6.5% while the average in Wales was 4.2%. The UK average for the 12 months was 6.2% – up from 5.7% in the year to December 2016.

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Hammersmith and Fulham among biggest house price fallers

 

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