North-South house price gap over £150k

Published: Wednesday 30th September 2015 by The News Editor

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The property price gap between the South and the North of England – including Yorkshire and Humberside – is at a record high.

Nationwide Building Society reports the price gap has exceeded £150,000 for the first time ever, with average prices in the South now twice as high as those in the North.

Buyers would now typically have to fork out £150,851 for a property in the North of England, compared to £303,811 in the South.

While prices have edged up by just 1% annually in the North, they have rocketed by 8% in the South.

But it is not an unfamiliar trend. Nationwide says the pace of price growth in southern England has consistently been outstripping that seen in the North for the last six and a half years.

The North of England includes Yorkshire and Humberside, the Midlands, the North West and the North East, while southern England includes the South West, the South East, London and the commuter belt areas plus East Anglia. September saw the average house price across the UK jump 0.5% to reach £195,585, up 3.8% year-on-year.

Copyright Press Association 2015

Published: Wednesday 30th September 2015 by The News Editor

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