North-south divide in house prices emerging
The latest House Price Index from Your Move’s parent company LSL Property Services plc – and Acadata – has highlighted that a north-south divide is emerging as prices continue to slide downwards – for the third month in a row.
More than half the unitary authority areas in England in Wales – 60 out of 108 – reported that prices had fallen over the month with the average property price in June being £301,114, down 0.2% on May – although prices are still 3.8% higher than a year ago.
The East of England, particularly, continues to show strong annual growth, regaining its top spot among the regions. In London, Westminster sets a new peak price, up 19.7% annually to reach £1,865,843.
Oliver Blake, Managing Director of Your Move said: “Don’t write the market off just yet. We’ve seen three months of falls, but it’s far too early to panic. We’re still seeing strong growth in the East and in prime London as well as a return to the North-South divide in terms of price growth. In many ways, it feels like we’ve been here before.”
To see the full Index, please access our Media Centre at https://www.your-move.co.uk/house-price-index