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

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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.

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This post was written by FSB News