North-South house price gap at record

April 1, 2016 8:46 am Published by

North-South house price divide hits record high

  • 1 April 2016
  • From the section Business

houses in PetersfieldImage copyright
Thinkstock

Image caption

House prices in the South have accelerated

House prices in northern England are now less than half those in the south of the country, according to the Nationwide – a new record.

On average, a house in the North of England is worth nearly £163,000 less than one in the South.

In the first quarter of 2016, prices in the South rose by 9.9% year-on-year, compared to just 1.8% in the North.

Measured on a monthly basis, the average price of a home in the UK was £200,251.

That is the first time on the Nationwide measure that the price has risen above £200,000.

The building society also said that prices were picking up.

In the year to March, house price inflation across the UK hit 5.7% – up from 4.8% in February and the fastest rate for more than a year.

Categorised in:

This post was written by FSB News