House price growth is increasingly being driven by regional pockets of strength rather than by London and the South East according to new figures from Lloyds, which show sharp gains in parts of the South West, Midlands and North of England alongside notable falls elsewhere.
Plymouth recorded the fastest growth of any major location over the past year, with average property values up 12.6%. The increase of £31,229 takes the typical home in the city to £278,808.
Stafford and Wigan also saw double-digit rises, with prices up 12.0% and 10.5% respectively. Lloyds said its mortgage data indicates that momentum is dispersed across a broad range of local markets rather than concentrated in a single region.
Yorkshire and The Humber featured prominently among the strongest performers. Wakefield registered price growth of 8.7% and Hull 6.5%, the latter recently highlighted internationally as a 2026 “Best of the World” destination. Northern Ireland was the best-performing UK region overall, with prices up 5.8%, ahead of Scotland and the North West, both at 3.7%.
STEEPEST DROPS
At the weaker end of the market, the South East accounted for many of the steepest drops. Crawley saw the largest fall, with prices down 8.9%, followed by High Wycombe at 7.4%.
Chester recorded a decline of 6.4% despite wider North West growth, and Cardiff’s values fell 5.2% against a small rise across Wales. London was the only region to show broadly flat prices, edging down 0.1%, but remains the most expensive market with an average value of £574,514.
Across the UK as a whole, average prices rose 3.7% over the year from £352,124 to £365,110. Lloyds said shifting affordability, local economic conditions and buyer preferences are increasingly determining outcomes at city and town level.
SIGNIFICANT CHANGE
Amanda Bryden, Head of Mortgages at Lloyds, says: “Our customers’ dream homes are found in pockets around the UK and we’ve supported thousands of people to take their next home buying step this year – whether they’re getting on the ladder for the first time or moving up.
“We’ve seen significant change in property values with some areas rising sharply, while others have cooled.
“Northern regions and Scotland are still generally more affordable than the south of England, with a huge amount to offer in terms of culture and history, alongside some of the most beautiful parts of the UK countryside.
