Most UK regions experience faltering house price growth
Nine out of 13 UK regions saw annual price falls over the last three months, according to a new Nationwide report, while it will be no surprise to anybody that the north/south divide persists for English house price performance.
Robert Gardner, Nationwide’s Chief Economist, said that average house prices in the UK fell by 1% between April and June with prices down 1.1% compared with the same period in 2011. London saw the strongest quarterly growth rate, with
prices up 1% over the first three months of the year which means average prices in the capital have now almost recovered to their 2007 peak.
The report shows:
* The North West was the worst performing English region, with prices down 4.1% year-on-year
* Scotland was the worst performing area on a quarterly basis, with prices falling 2% during the second quarter
* Wales saw a third successive quarter of price falls – on an annual basis, prices were down 5.3% compared with 2011
* Northern Ireland also continued to see price falls, with average prices down 10.6% year-on-year
The gap in house prices between southern England and northern England has continued to widen, with the south experiencing stronger growth for the 30th consecutive quarter. Average house prices in the south are now around £96,000 higher than those in the north, a record high. Liverpool saw the strongest price growth over the last year, with prices up 10%. Carlisle remains the worst performing city, with prices falling 13% over the same period.buying house, moving house, real estate, selling house
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