The scariest Halloween house price drops revealed

This Halloween, we analysed house price data from the Land Registry to reveal how the property market has performed since last year’s spooky season - and the results were enough to make the blood of homeowners in some areas of the nation run cold!

Co-founder and CEO of GetAgent.co.uk, Colby Short, commented: “Forget the ghosts and the ghouls, the one thing that is sure to scare the life out of the nation’s homeowners this Halloween is finding out the value of their home may have plummeted by thousands of pounds. Unfortunately for some, this is a spine tingling reality, with house prices falling across 62% of the UK since last Halloween.“

Our research showed no less than 62% of areas within the UK housing market have seen house prices fall since this time last year, some by as much as £84,000! Spooky stuff!

Let’s take a deeper look into the study.

City of London suffers the spookiest drop

Colby continued, ‘As our research shows, the scariest Halloween house price drops haven’t been confined to one area of the market, with the likes of Pembrokeshire to Southend, Cambridge and the Orkney Islands all making the top 20 worst hit.”

The scariest of the lot has been across the City of London, where house prices have plummeted by a whopping £83,569. Nearby Kensington and Chelsea has also seen a frightening fall with £41,536 shaved off the average value of a home since last Halloween.

Elsewhere across the capital, Westminster, Waltham Forest, Wandsworth, Tower Hamlets and Hammersmith and Fulham rank within the top 20 areas to have seen the scariest hits to house prices.

House price haunts across the country

Outside of London, the Hastings property market has been haunted to the greatest extent with a drop of £32,884, while Surrey Heath and Islington complete the top five worst hit areas since last Halloween.

The Shetland Islands, Pembrokeshire, Southend-on-Sea, Powys, Chichester, Elmbridge, Orkney, Harlow, Cambridge and Rother also rank within the top 20.

Take a closer look at our findings - if you dare!

It’s not all doom and gloom!

That being said, our research also revealed that since last October, the average UK house price has only cooled by a modest -0.2% (a drop of just £452). Though some local authority areas have taken a real hit, it’s not the same scary picture across the whole of the UK.

Colby commented, “Of course, it’s not all doom and gloom and despite house prices falling in some areas, there remains a very good proportion of the property market that is yet to see any notable reduction despite the turbulent times of late.”

Let’s hope the market will see some more positive developments by the next spooky season!

You can discover the value of your home instantly using our Online Valuation Tool here.

Data tables

Data tables and sources can be viewed online, here.