A report according to Halifax Estate Agents has found that house prices in the North have out-stripped those in the south over the last year narrowing the North/South divide. In addition, the average home had increased in value by 138% in the last 10 years.
10 years ago there was only one county in this country where the average house price was above £100,000, now there are 52 counties.
Our view
Property as ever remains a sound investment in the longer term. Beware though of possible interest rate increases, market slowdown and the return on negative equity for those who take on huge mortgages to buy their first home.