6 Aug

North-south property divide narrows

North-south property divide narrows

Estate agents in the north of England will be interested to know that the divide between values of properties at opposite ends of the country has narrowed.

Yesterday (August 5th), Halifax revealed that between 1999 and 2009, the value of houses for sale in the north increased by 132 per cent, while properties in the south only grew in value by 109 per cent.

The bank's findings revealed that this has led to the northern share of UK housing assets increasing from 41 per cent in 1999 to 44 per cent in 2009.

Housing economist at Halifax Martin Ellis said: "The past decade has seen a substantial increase in the value of housing assets in the UK, with all regions recording average annual increases of seven to 12 per cent."

Lucian Cook, from Savills, said yesterday's news that the Bank of England will maintain its base rate at 0.5 per cent could lead to a further increase in property prices across the country. ADNFCR-1222-ID-800016137-ADNFCR

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