100k North South House Divide

100k North South House Divide.

Nationwide has released its latest property price index.

The results suggest that:

Property rises rose by 0.9% in September alone.

Property rises rose for the year to September by 5%.

The average property price gap between the North and South has risen to over £100,000 for the first time.

Comment

The south east continues to be the boom area as more people move to the south east for work and standards of living.  The increase is fuelled by Brits moving to the south east as well as foreign nationals coming into the UK for work..

Property prices are starting to move in the depressed areas of the Midlands, North East, Scotland and Northern Ireland, but these are still nowhere near the prices they were in 2007.

London and the south east has continued, sustained growth and we expect this growth to filter out to the rest of the country over the coming year.