6
Aug
North-south property divide narrows
Estate agents in the north of England will be interested to know
that the divide between values of properties at opposite ends of
the country has narrowed.
Yesterday (August 5th), Halifax revealed that between 1999 and
2009, the value of houses for sale in the north increased by 132
per cent, while properties in the south only grew in value by 109
per cent.
The bank's findings revealed that this has led to the northern
share of UK housing assets increasing from 41 per cent in 1999 to
44 per cent in 2009.
Housing economist at Halifax Martin Ellis said: "The past decade
has seen a substantial increase in the value of housing assets in
the UK, with all regions recording average annual increases of
seven to 12 per cent."
Lucian Cook, from Savills, said yesterday's news that the Bank of
England will maintain its base rate at 0.5 per cent could lead to a
further increase in property prices across the
country. 