Ten years on from the historic Brexit vote, a stark regional divide has emerged in UK house price growth, with some areas experiencing explosive price rises while others languish behind. Research by property firm Yopa reveals that the average UK house price has surged 37.7% since June 2016, reaching £270,080 by April 2026.
The most significant gains have been seen in traditionally affordable regions outside southern England, with Northern Ireland leading the way with a whopping 69.8% increase (£81,378). Wales and Scotland also saw substantial rises of 53.2% (£73,825) and 42.2% (£56,978) respectively.
Within England, the North West, West Midlands, East Midlands, and Yorkshire and the Humber have all outperformed London, which has experienced a relatively modest 10.3% increase (£51,508). This trend suggests that buyers are increasingly seeking better value and more space in areas beyond the capital.
Verona Frankish, CEO of Yopa, attributes the uneven growth to local market fundamentals remaining dominant, even in the face of major events like Brexit. She notes that strong growth has occurred outside traditional hotspots as buyers opt for greater affordability and value, driving up prices in regions such as Northern Ireland, Wales, Scotland, and large parts of northern and central England.
The analysis also highlights localised declines, with the City of Aberdeen recording the largest fall (-33.7%), followed by the City of London (-31.7%) and the City of Westminster (-24.7%). Other areas seeing falls include Hammersmith & Fulham (-8%), Kensington and Chelsea (-5.6%), Tower Hamlets (-5.2%), Aberdeenshire (-4.6%), Wandsworth (-4.1%), and Southwark (-1.6%).
The regional disparities have significant implications for UK businesses, which must consider the varying economic landscapes when making investment decisions, recruitment strategies, and local economic activity. Lenders will also need to factor in the differing risk profiles across regions when lending.
Source: Yopa