Price of flats has dropped as much as 7.5% in the last 12 months
Aberdeen showing the biggest discounts followed by St Albans (5.3%) and Middlesbrough (4.6%)
Across the UK, the price of flats is going up nearly four times slower than houses1
A cooling property market means flat values are plummeting by more than 7% in some areas in a boon for first-time buyers trying to buy their first home, research by home finance provider Gatehouse Bank reveals1.
Significant price falls in specific areas, including key commuter towns, are presenting first-time buyers with opportunities to get on the property ladder.
Land Registry data shows Aberdeen is offering the biggest discount year-on-year, with the price of flats in the Scottish city dropped annually by 7.5% in the last quarter1. The price of flats in St Albans decreased by 5.3% and in Middlesbrough they fell by 4.6%.