Houses in areas of the north of England and Scotland are worth less now than they were before the global financial crisis 13 years ago.

While in some areas house prices have jumped by 14% since the pandemic began last spring, caused by a “race for space” as people sought bigger homes with more garden space, prices in several areas remain below their peak in 2008, found the report.

House prices in Aberdeen have fared worst, down 12.4% compared with where they were before the 2008 crash, according to Savills. In the North East of England, Hartlepool fares worst, with prices down by 7.8% on 2008.