It’s been a difficult year for most people when it comes to buying and selling homes. With interests rates rising and mortgage products being pulled by the banks daily, it’s a nervous time as people also question whether house prices will fall.
Latest data from the UK House Price Index shows the average UK house price was £286,500 in April 2023, a slight rise from the previous month but £6,500 below the £293,000 all-time high recorded in September 2022.
However, in Bristol, figures from The Office for National Statistics show house prices remained stable in the 2022 calendar year, compared to 2021 - with just five neighbourhoods from right across the city seeing a fall in average sold prices. The average Bristol house price is now £349,005, Land Registry figures also show.
Here are those areas with falling house prices from 2021 to 2022:
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Average sale prices for homes fell in just five Bristol neighbourhoods from December 2021 to December 2022 - scroll down
2. Highridge
Highridge, in south west Bristol, is among the cheapest places to buy a property - and it’s just got a bit cheaper. Unlike nearby Hartcliffe, where prices have gone up 31,6%, prices in Highridge have gone down 0.8%. The average sold property went for £252,000 in 2021, compared to £250,000 in 2022.
3. Monks Park
With Southmead Hospital sitting within its borders, Monks Park is a popular place to live for NHS and agency workers. There is also employment nearby with Airbus in Filton. However, house prices have fallen 2.1%. The average sold property went for £368,750 in 2021, compared to £361,000 in 2022.
4. Knowle Park
Knowle Park sits on the A37 at the meeting point between Brislington and Knowle Park. At its centre is the Broadwalk Shopping Centre and Redcatch Park. A recent community campaign saw plans for the centre refused. But house prices have fallen, down 2.1%. The average sold property went for £398,500 in 2021, compared to £390,000 in 2022.