Numbers are based on actual sales that have gone through; and where better to start than London? In percentage terms London’s not done too badly – dropping on average by just under six per cent. But because prices started so high, that’s more than £20,000 off the average house price.
Faring well is North West England - in percentage terms it hasn’t dropped any further than London, so that means less than £8,000 off the average property price; still a lot of money but not all doom and gloom.
Overall, Wales has taken one of the biggest hits. And for Scotland and Northern Ireland it's a case of extremes. Scotland's faired the best in the UK, with less than a 2 per cent drop. Across the water, Northern Ireland's down a massive 22 per cent in a year. But if you live here, don't panic. You went through a major housing boom last year and even with this drop, prices are only back to the same level as they were in Autumn 2006.
The South East and South West have taken similar hits, with around £17,000 falling from the average house. And overall, the other regions of the country all hover round about the UK national average – which, at the moment, shows a 7.5 per cent drop in the past year. That takes the average UK house price to just under £169,000 - back where they were in 2006.
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