The most valuable areas of the UK property market revealed in the top 10 list

Average house price in the city of Edinburgh for the last 12 months was £326,024.

Buckinghamshire came in second with a total of 7,115 sales in the past 12 months, equating to a total of £3.4bn in sales.

Wandsworth in south-west London ranked third where £3bn worth of homes have been sold over the last year, a total of 4,552 sales.

In North Yorkshire, sales in the last 12 months totaled £2.5bn, while in Kensington and Chelsea they totaled £2.5bn.

Somerset (£2.5bn), Cornwall (£2.5bn), Belfast (£2.4bn), Birmingham (£2.35bn) and Wiltshire (£2.3bn) completed the top 10 local property markets most valuable. the richest real estate markets.

The most valuable local real estate markets:

1. edinburgh city
2. buckinghamshire
3. Wandsworth
4. north yorkshire
5. Kensington and Chelsea
6. Somersault
7. Cornwall
8. Belfast
9. Birmingham
10. wiltshire

Less valuable pockets of the UK property market include Merthyr Tydfil and Blaenau Gwent in Wales, with just £109.5m and £122m worth of properties sold over the last year.

The City of London comes in third, where only £123.7m of properties have been sold over the last year despite the median house price being £877,562.

Alice Bullard, Nested’s CEO, said homes are still selling, but at a slower rate and at a lower price.

She said: “Despite the fact that the heat has faded from the pandemic property market boom, there has still been a staggering amount of property transactions in the last 12 months, to the tune of almost £250bn.

“This shows that despite the tougher market conditions that have materialized, buyers are still acting with intent and homes are selling, albeit at a slower pace and slightly lower price than we have seen in previous months. .

“Of course, the fragmented nature of the UK property market means that some areas continue to see the market move at high speed and in places like Edinburgh and Buckinghamshire the market remains very active.”