Gap in house prices narrows between north and south
Figures have been released showing a narrowing of the north/south divide in house prices.
The Halifax statistics may be of interest to Brits who have invested in a bespoke conservatory or garden studio to boost the value of their property.
According to the data, home values in the north increased by 132 per cent between 1999 and 2009.
However, those in the south grew by just 108 per cent in the same period, leading to an average rise of 118 per cent across the UK.
Hometrack strategy, risk and economics director Gary Styles explained that the dates of the survey could have some bearing on the outcome as London tends to lead the UK housing market in and out of peaks and troughs.
"London and the south-east traditionally leads in the recovery phase so, depending on the timing of that period, it can have quite a big impact on the relative [differences] between the various regions," he said.
However, Mr Styles added that the 118 per cent price growth over the decade showed that the UK market performed well in the past two decades, not least in the run up to 2007.
Posted by Paul Steel
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