As a whole, property prices in the UK are on the way down after they shot up towards the tail end of the pandemic - but it's not the case for everywhere. Do you live in one of the areas which continues to see house costs rising, by as much as seventeen percent in some cases? The latest Halifax House Price Index reveals all.
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00:00 The national average house price has dropped by 3.9% year on year from Q3 2020 till now.
00:08 It's thought to be down to higher interest rates affecting the affordability of mortgages
00:12 and in turn the number of people looking to get on the property ladder or make a move.
00:17 But according to the experts at Halifax who put together this data, the housing market
00:21 doesn't perform in a uniform way. Kim Kinnard, director of Halifax Mortgages said "There
00:27 are multiple factors which can impact house prices in your local area, ranging from the
00:31 mix of properties available and the extent of any new housing, to the quality of schools
00:35 and abundance of job opportunities."
00:38 The mortgage providers' findings reveal some areas have seen house costs continue
00:42 to rise. Powys in Wales has seen a more than 17% rise in the last year, followed by East
00:48 Lindsay in the East Midlands with a more than 13% rise, and Moray in Scotland with a just
00:53 over 10% increase too, all three bucking the trend of the wider performance of the
00:57 housing markets.
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