Using recently released Land Registry data, let’s take a look at where across the nation has given homeowners the biggest Brexit blues (and where hasn’t).
On average, house prices across districts to have voted to leave are up 5.65% since June of last year to just 4.04% across the UK’s Remain districts.
Brexit House Price Drops
Although both camps have seen pockets of house price decline, of the 13 Remain districts to see a drop, prices have fallen by an average of -4.40% to just -1.94% on average across the 14 Leave districts to see a fall.
The areas where Remain homeowners will be feeling the biggest Brexit blues are the City of London (-20.31%), the Western Isles (-16.00%) and the City of Aberdeen (-9.95%), all seeing a much larger decline than the biggest drop of the Leave districts (Pendle -6.27%).
There has also been negative movement for the Remain districts of Greenwich (-3.10%), South Hams (-1.55%), Windsor and Maidenhead (-1.52%), Argyll and Bute (-1.38%), the London Boroughs of Newham (-1.32%) and Brent (-0.86%), Harrogate (-0.72%) and the boroughs of Hammersmith and Fulham (-0.32%), Barnet (-0.15%) and Merton (-0.04%).
The areas with a majority Leave vote that have since seen the average value of property fall are Pendle (-6.27%), Sunderland (-4.21%), Ribble Valley (-3.94%), Richmondshire (-2.54%), Middlesbrough (-2.29%), North Somerset (-2.04%), Hambleton (-1.66%), Cheshire West (-1.35%), Blaenau Gwent (-1.08%), Stockton-on-Tees (-0.97%), Neath Port Talbot (-0.55%), Torfaen (-1.14%), Bracknell Forest (-0.1%) and Surrey Heath (-0.09%), although the decline in growth has generally been lower than the Remain districts to have seen a slump.
Brexit House Price Growth
The UK overall has enjoyed an annual increase of 4.9% in house prices since the decision to leave the EU. A huge 159 Leave districts have seen house price growth exceed the UK average with 30 of these districts enjoying an increase in values more than twice the national average. The pick of the bunch has been Tendring (13.11%), Copeland (12.86%), Maldon (12.77%), West Somerset (12.62%) and Rutland (12.36%)
Just 44 Remain districts have seen house prices exceed the national average for annual growth, with only nine of these seeing this growth exceed double the UK average. The highest increases have been seen in the Orkney Islands (27.87%), Kensington and Chelsea (12.77%), Winchester (12.30%) Exeter (10.93%) and the Cotswolds (10.93%)