First-time buyers told to look north

Posted: 27 Apr 2007 11:45:36 GMT


            Property News - First-time buyers told to look north

The north of England is the best place for first-time buyers to look, housing industry experts have advised.

The north of England is the best place for first-time buyers to look, housing industry experts have advised.

Recent news of house prices has appeared to paint a bleak picture for those looking to get on the housing ladder, but the difficulties are heavily concentrated in the south-east and London, Hometrack's director of research Richard O'Donnell told the BBC, Firstrung Now reports.

He said this trend was "masking in the headlines" which did not emphasise the regional picture, adding: "When you look away from the south-east of England, house price growth is far more in check."

Kate Hamilton, homes and property editor for Buy Association, said this week that there was a "dramatic" price difference between north and south in England, without the south having a major economic advantage.

She said: "There's certainly a case for a lot of people to be moving north, especially to the big cities like Manchester and Leeds where there are the job opportunities but where property is much cheaper."

According to the latest BBC house price guide, which is based on land registry figures, the average house price is now £153,112 in the north-west, £143,388 in the north (north-east and Cumbria) and £154,917 in Yorkshire and the Humber.

This contrasts with £322,104 for Greater London and £248,003 for the south-east.



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