House price gap overstated?

Posted: 09 Aug 2010 09:00:41 GMT

The narrowing of the gap in the price of houses between the north and south may be overstated, one expert has suggested.

A survey by HSBC revealed prices in the north grew by 132 per cent between 1999 and 2000 and in the south they expanded by 118 per cent.

But strategy, risk and economics director at Hometrack Gary Styles said the dates could have an impact on the report's results, as the London property market tends to lead the UK "in and out of price dips".

"What we have seen in the recent past is that London and the south-east has been outperforming the northern regions over the last 12 months or so," he added.

Mr Styles noted it may be worth seeing what the figures would be like if they had started in the mid 1990s and then went through to the current period.

The Land Registry recently stated the average house price in England and Wales now stands at £166,072, following an increase of 0.1 per cent in June.
 

© Houseladder Ltd