House prices in London’s ‘stockbroker belt’ drop most in 2025
The capital has seen sharp falls in property prices in real terms over the past decade, particularly for apartments
[LONDON] Pockets of London’s so-called stockbroker belt suffered the biggest house price declines in 2025, as the South East of England and the capital fell behind regions in the north.
The West Sussex town of Crawley and High Wycombe in Buckinghamshire saw £35,000 (S$60,770) or more wiped off the valuation of the average home this year, according to Lloyds Bank.
The neighbourhoods’ 8.9 and 7.4 per cent falls were the biggest of any UK town or city. Brighton, another area popular with London commuters, was also in the top 10 under-performers, seeing a 4.8 per cent, or £20,000, plunge.
The figures revealed a chasm in house price growth between areas in and around the capital, the most expensive in the UK, and the rest of the country. It has been a patchy performance for Britain’s wider market this year, with an increase in stamp duty in April, budget uncertainty and still-elevated mortgage rates weighing on price growth.
London and the South East’s lacklustre performance in recent years has been blamed on a number of factors, including affordability, stamp duty increases, tax clampdowns on landlords and overseas buyers, and Brexit. Bloomberg analysis earlier this month revealed the capital has seen sharp falls in property prices in real terms over the past decade, particularly for apartments.
Lloyds said that South East England “dominates the list of towns where the value of homes fell or grew most slowly in the last year.”
“If you are open to exploring, you might find places where your money goes further,” said Amanda Bryden, head of mortgages at Lloyds. “Northern regions and Scotland are still generally more affordable than the south of England.”
Lloyds said London house prices stagnated in 2025, the worst of any region, while the South East also lagged behind with growth of just 0.8 per cent. That contrasts with strong growth in Northern Ireland, Scotland and swathes of northern England, particularly the North West and Yorkshire and the Humber. Valuations rose 3.7 per cent, or £13,000, across the UK as a whole.
Plymouth in the South West and Stafford in the West Midlands topped the list of house price growth in 2025, enjoying increases of 12.6 and 12 per cent, respectively. Wigan, Wakefield, Liverpool and Hull in northern England were also strong performers.
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However, Woking, a London commuter town in Surrey, bucked the region’s trend, with an 8.1 per cent increase. BLOOMBERG
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