Crawley defies cooling house prices nationwide and sees strong growth, new study reveals

House prices in Britain are down -0.3% month on month according to the Land Registry, with the data also showing that the market has been cooling for a while with this monthly drop of -0.3% being preceded by two months of stunted growth, during which prices rose by just 0.7% and then 0.2%.

Therefore, according to this latest government data, the average rate of house price growth over the last three months has been just 0.2%.

In some areas, the price drops have been far more significant during this period. The worst hit market has been Hammersmith & Fulham, London, where prices have fallen by -2.7% on average over the last three months.

Other areas to have experienced price drops are the City of Westminster (-1.6%), South Lakeland (-1.6%), Three Rivers (-1.3%), North East Derbyshire (-1.1%), Bassetlaw (-1%), and Exeter (-1%).

However, there are a number of British locations where house prices continue to go from strength to strength, none more so than the City of London where, after facing hefty challenges during the pandemic, they’ve increased by an average of 4.4% over the past three months, including a 10.5% rise in the past month alone.

In Malvern Hills, close to Worcester, prices have gone up by 3.1%; in Crawley, West Sussex, they’re up 2.9%; and positive growth has also been recorded in Stevenage (2.7%), Mid Suffolk (2.7%), Harborough (2.6%), Mendip (2.5%), Amber Valley (2.5%), Calderdale (2.4%), East Lothian (2.2%), Oldham (2.2%), Herefordshire (2.2%), Barrow-in-Furness (2.1%), Richmondshire (2.1%), and Lichfield (2.1%).

Head of eXp UK, Adam Day, commented:“As is always the case with these things, the topline stats don’t tell the full story when it comes to the health of the property market. So, while the national average house price might be in decline, it’s important to note that there are many regional markets that are actually in very good health and where prices continue to rise.

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This is great news because, while the wider market is indeed cooling, there remain plenty of areas where agents and sellers can continue to command strong asking prices.