Jump to content
House Price Crash Forum
Sign in to follow this  
cool_hand

Overpriced Property Is Twice As Much Overpriced In The South!

Recommended Posts

http://www.bbc.co.uk/news/business-35941503

North-South house price divide hits record high

By Brian Milligan Personal Finance reporter

House prices in northern England are now less than half those in the south of the country, according to the Nationwide - a new record.

On average, a house in the North of England is worth nearly £163,000 less than one in the South.

In the first quarter of 2016, prices in the South rose by 9.9% year-on-year, compared to just 1.8% in the North.

Measured on a monthly basis, the average price of a home in the UK was £200,251.

That is the first time on the Nationwide measure that the price has risen above £200,000.

The building society also said that prices were picking up.

In the year to March, house price inflation across the UK hit 5.7% - up from 4.8% in February and the fastest rate for more than a year.

One reason for the increase may have been the rush by landlords to buy property ahead of Stamp Duty increases on 1 April, the Nationwide said.

The Scottish equivalent - the Land and Building Transaction Tax (LBTT) - will also see a 3% surcharge.

"The pace of house price growth may moderate again once the stamp duty changes take effect in April," said Robert Gardner, Nationwide's chief economist.

"However, it is possible that the recent pattern of strong employment growth, rising real earnings, low borrowing costs and constrained supply will keep the demand/supply balance tilted in favour of sellers, and maintain pressure on price growth in the quarters ahead."

The Nationwide figures suggest prices are rising fastest in the London suburbs - as corroborated by the Land Registry earlier this week.

Where prices are rising fastest Region Average price % annual change (Q1 2016 v Q1 2015) Outer London £344,371 12.2% London £455,984 11.5% South East England £255,325 8.3% South West £221,703 5.8% East Anglia £204,948 5.8% West Midlands £168,585 4.1% East Midlands £162,082 2.2% Yorks and Humberside £144,361 1.9% N. Ireland £123,225 1.8% Wales £141,525 1.7% North West £144,914 0.5% Scotland £139,911 -0.2% Northern England £123,864 -1.1%

I would love to buy a home for £200,251. Bring it on.

Share this post


Link to post
Share on other sites

http://www.bbc.co.uk/news/business-35941503

North-South house price divide hits record high

By Brian Milligan Personal Finance reporter

House prices in northern England are now less than half those in the south of the country, according to the Nationwide - a new record.

On average, a house in the North of England is worth nearly £163,000 less than one in the South.

In the first quarter of 2016, prices in the South rose by 9.9% year-on-year, compared to just 1.8% in the North.

Measured on a monthly basis, the average price of a home in the UK was £200,251.

That is the first time on the Nationwide measure that the price has risen above £200,000.

The building society also said that prices were picking up.

In the year to March, house price inflation across the UK hit 5.7% - up from 4.8% in February and the fastest rate for more than a year.

One reason for the increase may have been the rush by landlords to buy property ahead of Stamp Duty increases on 1 April, the Nationwide said.

The Scottish equivalent - the Land and Building Transaction Tax (LBTT) - will also see a 3% surcharge.

"The pace of house price growth may moderate again once the stamp duty changes take effect in April," said Robert Gardner, Nationwide's chief economist.

"However, it is possible that the recent pattern of strong employment growth, rising real earnings, low borrowing costs and constrained supply will keep the demand/supply balance tilted in favour of sellers, and maintain pressure on price growth in the quarters ahead."

The Nationwide figures suggest prices are rising fastest in the London suburbs - as corroborated by the Land Registry earlier this week.

Where prices are rising fastest Region Average price % annual change (Q1 2016 v Q1 2015) Outer London £344,371 12.2% London £455,984 11.5% South East England £255,325 8.3% South West £221,703 5.8% East Anglia £204,948 5.8% West Midlands £168,585 4.1% East Midlands £162,082 2.2% Yorks and Humberside £144,361 1.9% N. Ireland £123,225 1.8% Wales £141,525 1.7% North West £144,914 0.5% Scotland £139,911 -0.2% Northern England £123,864 -1.1%

I would love to buy a home for £200,251. Bring it on.

House prices in the north are twice what they should be too!!!

Mental

Share this post


Link to post
Share on other sites

Create an account or sign in to comment

You need to be a member in order to leave a comment

Create an account

Sign up for a new account in our community. It's easy!

Register a new account

Sign in

Already have an account? Sign in here.

Sign In Now
Sign in to follow this  

  • Recently Browsing   0 members

    No registered users viewing this page.

  • The Prime Minister stated that there were three Brexit options available to the UK:   26 members have voted

    1. 1. Which of the Prime Minister's options would you choose?


      • Leave with the negotiated deal
      • Remain
      • Leave with no deal

    Please sign in or register to vote in this poll. View topic


×

Important Information

We have placed cookies on your device to help make this website better. You can adjust your cookie settings, otherwise we'll assume you're okay to continue.