According to Halifax’s house price index, London is out of favour with the North and Midlands taking over. Halifax reported those property prices in the North and Midlands accounted for over half of the fastest rising prices. Economists believe prices have grown faster in these areas due to inner city developments.
Also, houses in the North and Midlands have not been as popular as London and the South East in the past. This means that the prices are lower anyway, resulting in large percentage increases when the prices move upwards.
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