House price changes vary widely across the regions
Several regions in decline masked by London surge
September 14, 2012
Depending on where you live, the housing market is both soaring and struggling. Figures released today show that while some regions are experiencing surges in house prices, others are continuing their long-term fall. Last month prices fell in the North West, East Anglia, and the East Midlands. This is in stark contrast to Greater London where prices have risen by more than 10% in the last year.
Data from LSL Property Services shows that there is also a great variation within a region. Within Yorkshire and the Humber, Kingston upon Hull’s house prices dropped by 2.6%, whereas in York they increased by 6%. London once again saw the greatest growth but fortunes were also mixed. Homes in Greenwich have depreciated by 1.1% since July 2011. In Kensington and Chelsea they have increased by almost a third.