News | Legal News

30 June 2016

North-south house price gap ‘widest ever’

The gulf in house prices between southern and northern England has never been wider, according to new figures.

The typical home in the south - including the south-east - is now selling for £324,078, Nationwide Building Society says.

But its figures show the average house price in the north of England is now £155,222, a record £168,856 lower than in the south.

And over the last 12 months alone, the building society said the north-south house price gap has increased by £24,000.

The June figures show that across the UK as a whole, the typical price of a property has jumped to £204,968.

That is 5.1% higher than at this time last year and 0.2% up on May's average.

Looking ahead, Nationwide's chief economist, Robert Gardner, suggested that the record low supply of homes for sale and low mortgage costs are likely to hold up prices even if demand weakens following the UK's decision to leave the EU.

Martina Razaq

Martina Razaq

Tel: 01753 279065

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