Hartlepool ranks third in the UK for falling house prices

House prices in Hartlepool have fallen by 5.35% Pic: PA.
House prices in Hartlepool have fallen by 5.35% Pic: PA.

It has been a particularly bad year for Hartlepool home owners due to Brexit and a snap election bringing an uncertain market, with some seeing the price of their property fall in line with a lack of buyer demand.

Figures from state agent eMoov.co.uk have highlighted the areas of the UK that have suffered the biggest drops over the past year.

Number three on the national list is Hartlepool with a fall of -5.35%, dropping the average house price to £100,957.

The town closely follows the City of London, which saw a -5.59%, although prices are still averaging £800,802.

Topping the list is Aberdeenshire, with a price drop of -5.69.

Although the property values remain lower in Scotland than the UK’s average, this area of Northern Scotland has been hardest hit in the last year with the average property price amounting to £188,876.

This is largely due to the continued economic slump from a decline in the oil industry.

Number four on the list is the City of Aberdeen: with -4.81%.

Keeping up with the wider area, the largest city in the region has seen a drop in property prices this year down -4.81% to £167,903.

Heading back to England, Cheshire’s Halton has suffered a drop in value of -4.62%, slumping prices to £127,003.

Middlesbrough saw property prices fall by -3.21% over the last year to an average house value of £108,904.

Wales’ biggest decline was -3.14% in the south, dropping the average property value to £101,675.

In Cumbria, Carlisle prices have trickled down -2.98%, leaving with it an average price a £129,425.

Another contender in the capital, prime central London’s City of Westminster experienced a -2.46% drop in property values to £962,510.

It is accompanied by Lancashire’s Hyndburn, where property prices also fell by -2.46% to £93,628.

Founder and CEO of eMoov.co.uk, Russell Quirk, said: “The uncertainty that came with the snap election and the referendum has begun to slowly vanish, so we should start to see positive price growth creep across the majority of the UK by this time next year."