North-South divide over house price predictions

Monday, 30 January 2012 11:26

More Brits than ever are expecting house prices to rise in the next 12 months, new figures suggest.

According to a Rightmove survey, 66 per cent of consumers believe property will hold its value or see an increase over the next year, compared with 62 per cent of people polled a year ago.

But the property website said that a closer look reveals some significant regional variations and a clear North-South divide.

Six out of 10 home movers said they think the UK is currently a buyer’s market, while only one in seven thinks it’s a seller’s market.

While one in three Londoners expects house prices to be higher 12 months from now, just a fifth of people in Wales believe the same.

And at town and city level, the contrast is even more apparent, with 40 per cent of home movers in South West London predicting prices to be higher by next year compared with just 14 per cent of people in Blackpool.

Nineteen of the top 20 towns where residents expect prices to grow are located in the South and 17 of the 20 locations where people are predicting price drops are in the North, Rightmove said.

Consumers split over house price predictions

Potential house buyers are evenly split in their predictions for prices, according to the latest Consumer Confidence Survey by Rightmove.

House prices ‘will not be lower a year from now’

Some 63 per cent of Brits planning to move home think local property prices will not be lower 12 months from now, according to Rightmove. While 41 per cent predict prices will be more or less the same, 22 per cent expect prices to be higher.

House prices slipped down 0.6 per cent last month

November saw the average house price in England and Wales fall by 0.6 per cent last month, according to the latest House Price Index from the Land Registry, which confirms the seasonal slump. Prices held up in London and the South East, which saw marginal increases.

Northerners paying more for home energy

Households in the North of the UK are paying more for their domestic fuel than those in the South, according to a new survey from energyhelpline.com, which underlines the benefits of switching energy providers.

Halifax reveals Noughties price jumps

House prices in the UK have risen by 91 per cent over the past ten years, according to the latest research from Halifax, although some areas have fared much better than others, suggesting a return of the North South divide.

 

House Price Index

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