DanAronG
Joined: 17 Oct 2008
Posts: 103
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| Posted: Mon Aug 03, 2009 11:21 am Post subject: The new house price divide? |
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In the past, it has often been commented that there was a clear divide in house prices between the north and south.
Recent data appears to show a new divide emerging, that between the southeast and the northwest.
Recent figures from the Land Registry show an interesting divide in changing house prices, with a line starting in Bristol and heading northeast towards Newcastle. Those to the south & east of the line (including Devon & Cornwall) are experiencing rising house prices, while those to the north and west are seeing prices fall further.
Overall, property to the north and west of this line fell on average nearly 10% this year, while those to the south and east have risen on average nearly 8% a particularly worrying fact for those with a large mortgage. It is estimated that many purchasers of a property in 2005-8 could be in negative equity for some time, with some reports suggesting as long as 2014.
It may be a little early to be worrying about your post code, but it will be interesting to watch how this phenomenon progresses. |
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