Halloween house price drops hit 1 in 4 areas
The latest research from The Property DriveBuy has found that the vast majority of homeowners are in for a treat this Halloween, with just 24% of local authority areas across the UK seeing house prices fall since last October. However, homeowners in Westminster, Kensington and Ceredigion have seen the most haunting house price drops in the nation, with the average house price falling by as much as 13% since last October.
The Property DriveBuy analysed average house price data across every local authority market to see where homeowners are set for a trick or a treat this Halloween based on the change in value since October 2024.
The research shows that, across the UK as a whole, house prices have climbed by 2.8% since last Halloween, highlighting a market that has stood fairly firm despite wider economic headwinds.
At a regional level, the North East has seen the strongest Halloween uplift at 5.2%. By contrast, London has seen a modest rise of 0.8%, leaving many homeowners in the capital feeling a seasonal chill compared to the rest of the country.
However, when drilling down to local authority level, the analysis shows that one in four areas have posted a Halloween house price drop since last October.
Westminster tops the terrifying table, having seen a fall of 13.2%, while Kensington and Chelsea ranks second having seen a decline of 11.8%.
Outside the capital, it’s Welsh homeowners who are in for the biggest fright. House prices in Ceredigion have fallen 9.5% – the third largest decline seen across the UK market – whilst Merthyr Tydfil is close behind with a drop of 9.4%.
Other notable annual declines include Tower Hamlets at 7.7%, Eastbourne at 5.7%, Thanet at 5.5%, Brent at 5.3%, the City of Aberdeen at 4.8%, and Hammersmith and Fulham at 4.7%.
Steve Foreman, Founder and CEO of The Property DriveBuy, commented:
“The market has delivered far more treats than tricks this year. Prices are up 2.8% across the UK since last Halloween and only a quarter of local authorities have seen a decline.
However, house price performance has been haunting for homeowners across some areas of the market and the worst of these falls are not confined to one corner of the map. London, Wales, the South East and parts of Scotland all feature among the biggest annual reductions, which shows just how hyper local the market can be.
For homebuyers, these Halloween house price drops present a potential window of opportunity as the market remains spookily subdued in the run up to the Autumn Budget.
So whilst you may find yourself hitting the streets to take the kids trick or treating, why not double up and conduct a Halloween house hunt?
Look in estate agency windows, keep an eye out for for sale boards and use geo-location search while you are out and about to potentially find your perfect property. Apps like The Property DriveBuy surface nearby listings in real time as you pass them, so you do not miss properties that rigid portal filters might hide. For sellers, that added on-the-ground visibility can be the difference between a so-so result and achieving a stronger price than homes in the wider area.”
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