Which UK location saw the greatest house price growth in 2023?

"Across the UK, this year's market has been hit by the squeeze on mortgage affordability, but there's been a big difference in how house prices have performed in towns and cities across the country"
- Kim Kinnaird - Halifax

The figures, which looked at Halifax and Bank of Scotland mortgage approvals in the 12 months to October 2023 compared to the 12 months to October 2022, also found that homes in Bradford rose by +8.5% (+£15,183).

The biggest fall in average house prices was in Stoke-on-Trent (-£30,978) followed by Perth in Scotland (-£34,324).

However, in many areas house prices remained largely static. Telford and Havering saw the cost of homes stabilise over the course of 2023, changing value by less than £100.

Top 5 UK locations with the biggest rise in average house prices since last year

1: Huddersfield - up 8.7%

2: Bradford - up 8.5%

3: Falkirk - up 6.0%

4: Hillingdon - up 4.5%

5: Newport - up 3.7%

Top 5 UK locations with the biggest fall in average house prices since last year

1: Stoke-On-Trent - down 15%

2: Perth - down 14.1%

3: Stockport - down 13.3%

4: Chelmsford - down 13.0%

5: Livingston - down 13.0%

Kim Kinnaird, Director, Halifax Mortgages, said: “Across the UK, this year's market has been hit by the squeeze on mortgage affordability, but there's been a big difference in how house prices have performed in towns and cities across the country.

"House prices can be swayed by many factors, from the number of homes for sale, the local jobs market, and services like education and public transport.

“Buying a home in Huddersfield or Bradford may well have cost considerably more in 2023 than it did last year, but that’s not the case in Stoke-on-Trent, for example, which might now be offering better value for money. However, when buying a home is such a major financial commitment, it’s important to consider the longer-term trends.

"Many homeowners will feel reassured to know that the average UK house price remains around £40,000 higher than before the pandemic.”