North-South house price divide at its widest for 12 years

Posted in 'Neighbourhood' by Richard Catlin

03 February 2012

The disparity between average house prices in the North and South of the country is bigger than it has been since the year 2000, according to the latest figures from property broker Savills.

The report backs up figures released by Land Registry through 2011, which saw the gap widening. Savills reports that London and the South East currently account for 47% of the total value of house sales in England and Wales.

The North’s greater exposure to public sector job cuts is just one of the reasons cited for the trend, which began to emerge at the start of the recession in 2008. Overall, Land Registry figures show that the average cost of a home in England and Wales in December 2011 was £160,384, down 1.3% on the figure 12 months previously.

You can check the average price that property in your local area has sold for, broken down by type and year of sale, allowing you to quickly and easily see which way the trend is moving. Data is taken straight from the Land Registry – which records the actual price paid every time a property trades hands.

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