North-South house price divide widened in 2010 - Mortgages | moneyfacts.co.uk

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North-South house price divide widened in 2010

North-South house price divide widened in 2010

Category: Mortgages

Updated: 31/01/2011
First Published: 31/01/2011

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The North-South housing price divide widened in 2010 as prices fluctuated widely across England and Wales.

Figures from the Land Registry show that house prices increased by 1.5% over the whole of 2010, following a 0.2% fall from November to December.

The fall means that the average price of a property in the UK in December was £163,814.

But it is the South of the country that has supported the annual growth.

London is the region where price gains have been most pronounced, with values soaring by 6.2% over the course of last year.

It also saw the largest monthly rise in December, as prices expanded by 1.0%.

The average price of a home in the capital finished last year at £342,325, making it by far and a way the priciest location to buy in England and Wales.

There were also significant increases in the South East and the East, with price rises of 2.7% and 2.5% respectively.

Prices in the South West jumped by 1.1%.

It was a different story in the North, however, with the North East suffering the heaviest losses, as 3.3% was wiped off the average price of a home in the region.

In addition, prices in Yorkshire & The Humber fell by 1.2%, while the average value of a home in the North West dropped by 1.1% between December 2009 and December 2010.

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