Rochdale in the top ten property price losers table

The average property price in Rochdale has decreased by 0.9% in the past year

Property prices increased by an average of 8.5 per cent in the past year but that average masks the fact that in some areas prices are decreasing, and Rochdale is in the top ten of those areas.

The average property price in Rochdale is £115,560 - compared to a national average of £209,428 - a price that has decreased by 0.9% in the past year.

The research, based on house price data from Halifax, found the big increases are all in London with prices increasing up to 25% in the past year.

The big losers are in the midlands and the north, with four out of the 10 weakest-performing towns in north west England. Neighbouring Bury is the biggest loser of all with property prices having decreased by close to 5% in the past year.

Craig McKinlay, mortgage director at Halifax, said: "Several of the towns experiencing price falls in the past year are still suffering from relatively weak employment conditions, which may have had an adverse impact on their local housing markets."

However, whilst price decreases may be bad news for local home owners, they are good news for local home buyers.