Home sellers in several popular commuter towns across the UK are adjusting to decreased property values, with average asking prices falling by £20,000 or more year-on-year. Towns such as Haywards Heath in West Sussex, Maidenhead in Berkshire, and Bath in Somerset are among those experiencing declines. In Haywards Heath, the average asking price dropped by 4.8%, equating to a £23,461 decrease from the previous year. Maidenhead saw a reduction of £22,991 in its average newly listed asking price, while Bath experienced a £19,903 fall.
In contrast, commuter areas around Glasgow and Manchester are witnessing a rise in property values. Many of these northern locations offer more affordable entry points to major cities compared to their southern counterparts. Falkirk in Stirlingshire leads commuter locations with a 13.5% increase in newly listed asking prices, a rise of £21,825 compared to last year. Clark Gillespie, director at Forth and Clyde Property, noted Falkirk's appeal stems from its affordable prices and strong transport links, making it attractive for commuters and families.
Rochdale, near Manchester, has also seen asking prices increase by nearly £20,000 in a year. An outlier in Hertfordshire, Broxbourne, recorded a significant £48,766 increase in its average new home asking price from the previous year. Colleen Babcock, a property expert at Rightmove, highlighted these diverging trends, stating that many of the fastest-growing locations have average asking prices below £250,000.
Babcock explained that in more affordable areas near Glasgow and Manchester, asking prices are rising robustly as buyers seek value within commuting distance of major cities. Conversely, some more expensive commuter hotspots are seeing prices ease, potentially creating opportunities for buyers who were previously priced out. She advised potential movers to look beyond immediate city locations for better value.
A similar north-south divide is also apparent within the cities themselves. Average asking prices have increased year-on-year in Glasgow (2.9%), Manchester (1.8%), and Cardiff (1.4%). However, prices have fallen in Birmingham (0.6%), Bristol (0.6%), and London (3.1%). The average price of a home in London's Royal Borough of Kensington and Chelsea saw a substantial decrease of over £95,000 in a single month, falling from £1,648,148 to £1,552,970 in August.