The latest housing market data from England and Wales reveals a fascinating story of contrasting fortunes across different regions, highlighting the complex and often divergent nature of Britain’s property market. Our analysis with BLG Development Finance of median house prices between March 2023 and March 2024 uncovers significant variations in market performance, with some areas experiencing remarkable growth while others face substantial declines.
Top 10 neighbourhoods with the highest increase in property prices
| Area | Local Authority | Property Prices (March 2023) | Property Prices (March 2024) | Percentage Increase (March 2023/March 2024) |
| Norwood Green South | Ealing | £410,000 | £760,000 | 85.4% |
| Camberley Town | Surrey Heath | £347,750 | £611,250 | 75.8% |
| Parsons Green East & Eel Brook Common | Hammersmith and Fulham | £1,020,500 | £1,680,000 | 64.6% |
| Woodcote | Croydon | £528,750 | £857,500 | 62.2% |
| Central Solihull & Sharmans Cross | Solihull | £317,500 | £490,000 | 54.3% |
| Highgate West | Camden | £707,000 | £1,085,000 | 53.5% |
| De Beauvoir | Hackney | £650,000 | £985,000 | 51.5% |
| Wimbledon Park & Durnsford Road | Merton | £612,500 | £918,000 | 49.9% |
| Herne Hill & Dulwich Park | Southwark | £1,110,000 | £1,650,000 | 48.6% |
| Chiswick South West | Hounslow | £585,000 | £865,000 | 47.9% |
Top 10 neighbourhoods with the highest increase in property prices (outside of London)
| Area | Local Authority | Property Prices (March 2023) | Property Prices (March 2024) | Percentage Increase (March 2023/March 2024) |
| Camberley Town | Surrey Heath | £347,750 | £611,250 | 75.8% |
| Central Solihull & Sharmans Cross | Solihull | £317,500 | £490,000 | 54.3% |
| Hamilton North | Leicester | £148,000 | £215,000 | 45.3% |
| Harraton, Rickleton & Fatfield | Sunderland | £164,000 | £235,000 | 43.3% |
| Towednack, Lelant & Carbis Bay | Cornwall | £310,000 | £440,000 | 41.9% |
| Devonshire Quarter | Sheffield | £122,750 | £171,250 | 39.5% |
| Farnley West & Gamble Hill | Leeds | £186,000 | £256,250 | 37.8% |
| Central Slough & Upton Court | Slough | £308,500 | £425,000 | 37.8% |
| Bournville West | Birmingham | £285,000 | £391,500 | 37.4% |
| Dorking South | Mole Valley | £460,000 | £628,000 | 36.5% |
Top 10 neighbourhoods with the highest decrease in property prices
| Area | Local Authority | Property Prices (March 2023) | Property Prices (March 2024) | Percentage Decrease (March 2023/March 2024) |
| St John’s Wood South | Westminster | £1,234,325 | £615,000 | 50.2% |
| St George in the East & Wapping North | Tower Hamlets | £1,126,000 | £566,250 | 49.7% |
| Holland Park | Kensington and Chelsea | £1,897,500 | £1,057,500 | 44.3% |
| Chopwell & High Spen | Gateshead | £159,495 | £93,000 | 41.7% |
| Broughton East | Salford | £232,000 | £144,000 | 37.9% |
| Lozells West | Birmingham | £240,000 | £152,500 | 36.5% |
| Isles of Scilly | Isles of Scilly | £550,000 | £350,000 | 36.4% |
| Wellington East | Telford and Wrekin | £236,000 | £151,500 | 35.8% |
| Manningham & Lister Park | Bradford | £170,000 | £110,000 | 35.3% |
| Knowsley Village & Southdene | Knowsley | £205,995 | £135,000 | 34.5% |
Methodology:
- We used property data from the Office for National Statistics, which looked at the medium house prices for MSOA areas in March 2023 and March 2024. We then worked out the highest increase and decrease percentages from these two figures.
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Conclusion:
These current patterns suggest a market that is realigning rather than fundamentally weakening, with clear opportunities in specific areas despite broader challenges.
The migration of value to suburban locations, particularly in London’s outer regions, might represent a lasting shift in the market’s structure. However, the significant price corrections in some prime central areas could also present opportunities for buyers who have been previously priced out of these markets.
This analysis emphasises the importance of detailed local market knowledge and suggests that while the overall market might be cooling, opportunities for both buyers and sellers continue to exist in specific locations. The key is understanding where these opportunities lie and what factors are driving local market performance.