According to the Rightmove House Price Index this month, it found that UK average asking prices increased by 2.8% over the past month driven by strong price growth in the South.
lf you are looking to move to the north of the country from the South, the growing price gap will let you buy a lot more house for your money”.
The North/South price divide means that you can now buy two properties in the North for the price of one in South!
A real plus - draw a search
Rightmove’s House Price Index also found that asking prices in London reached a new record high.
The Rightmove House Index gives further details on the average asking price for a property in the UK increased by 2.8% over the past month to leave the average asking price for a UK property now at £239,672. This figure masks a two-tier market in which the price gap between the north of the country and the south has never been wider. Asking prices in the south (East Anglia, South East, South West and Greater London) increased by 4.7% over the past month but fell 0.7% in the north (East Midlands, West Midlands, Wales, North West, Yorks & Humber and North East), and average property prices in the south (£336,743) are now more than double those in the north (£164,347).
Do you think the North south divide will ever disappear in the UK. Is it due to several factors including the London commuter pull along with higher temperatures in the South?
Have your say on the property price gap below:
There is always going to be a North South divide while London remains UK’s finacial hub. I’m not sure how much of a factor the weather is but certainly cash rich bankers and lawyers push up the price of the top end properties.
Interesting report – its worth noting the property price gap between North and South is only one fraction of the divide.
Other factors that influence the divide include:
Health conditions, which are generally seen as being worse in the north.
The political influence is very different.
Government expenditure, which is higher in the north than
the South
And finally earnings, which are higher in the south than the North