The North South Housing Divide In 2018 | e.surv

House Price Index (England and Wales), Market Insight //

The new North-South divide

House price growth remains at 1.8% for third consecutive month. Transactions in 2018 at their lowest in five years. Every region and 79 of the 108 unitary authority areas still record annual price rises.

The new North-South divide

  • Annual change in house price growth lowest for seven years
  • Transactions fall 2.4% in 2018
  • More than two third of local authorities still report annual growth

Prices rose again in December – for the fifth month in a row – up 0.3%, or £875. Annual price growth continued to slow, however, and stands at its lowest level since April 2012, at just 0.6%. CPI inflation for November (the latest figure available), meanwhile, was more than three times this figure, at 2.2%, meaning house prices are falling in real terms.

In nominal terms, however, average house prices are up by £1,690 over the last twelve months, meaning the average property price in England and Wales at the end of the year stood at £306,647.

Click here to read the House Price Index – December 2018 (England and Wales)

Data source: LSL Property Services