With London house price growth slowing and momentum building in the Northern and Midlands regions over 2017, we review what has happened to the well-documented North/South divide.
The premium paid for properties in the South of the country has been rising steadily in recent years. Back in July 2006, buyers in the South paid, on average, 40.6% more for properties than buyers in the North of the country.
By early 2017 average sales prices in the South were 78.7% higher than in the North, the highest premium of the last 20 years.
However, it seems that the premium has peaked for now at least, falling slightly over the course of the year. With price growth in the East and West Midlands, North West and Wales all currently outperforming London and the South East, we would expect the premium to continue to ease back further over 2018.
Source: dataloft using Land Registry Data