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Research shows house price growth stronger in the North

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by Kay Mitchell
Research shows house price growth stronger in the North

Research by the Halifax has revealed that between 2000 and 2010, house prices have risen faster in the North than in the South – the first time ever.

According to the lender, the price of the average home in the North has risen by 102% in the 10 year period, compared with a rise of 75% in the South.

The stronger price growth reported in the North has helped to narrow the gap between property values in the two regions. Price rises in the North have always lagged behind those in the South.

The Halifax said the average cost of a home in the South stands at £206,091 – 56% higher than the average £132,163 in the North.

At the start of the decade, the average price of a home in the North was £65,476, compared with £117,811 for the South.

In the 1980s, price rocketed 118% in the South, compared with 107% in the North, the Halifax said.

Meanwhile, in the 1990s, prices rose 46% in the South compared with 19% in the North.

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News posted: January 31, 2011

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