Latest figures from the Land Registry support the north-south house price divide, suggesting the gap to be widening aggressively.
From January to August this year, house prices in Wales, the North East and North West of England rose by less than 1%. This contrasts sharply with those in the East of England – showing an 8.4% rise, and the South East – a 7.6% rise.
During the summer months of July and August, prices in the North West, Yorkshire, the Humber region and East Midlands in fact fell.
The divide re-asserts itself, despite the fact that the number of conveyancing transactions continues to decrease.
The national average house price – £184,682 – is unrepresentative of the national disparity. In London the average house price is £493,026, whilst in the North East it is just £100,943. Here in the South East of England the average price currently sits at £254,658.
This is not legal advice; it is intended to provide information of general interest about current legal issues.
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