Average house prices across England and Wales have fallen by 16 per cent on an inflation-adjusted basis over the past 10 years, according to Land Registry data. Despite widespread concerns over the cost of housing, prices are below their level of 10 years ago in real terms in 145 of the 179 local markets covered by the index.
There are significant regional variations, however. Prices in London have risen by an average of 25 per cent after the cost of inflation, with real house prices more than 50 per cent above their level 10 years ago in nine of the capital’s boroughs. In contrast, prices in the North East have fallen by 35 per cent in real terms in the past decade and at the most extreme, by more than 40 per cent in Darlington, Blackpool and Durham.
Our interactive map below shows the inflation of house prices in England over a 10-year period.