6 May

Regional house prices on the up

Regional house prices on the up

It is expected that property prices outside London are set to rise by more than in the capital, according to new figures.

The latest quarterly report from Strutt & Parker predicts that UK house prices will increase by 7.5 per cent compared to 6.5 per cent in central London over the next year as more people look for better value away from the capital.

"In the first quarter of 2014, for the first time in a number of years, we have seen an outward flow from London into the south east and further afield," said Michael Fiddes, partner and the firm's head of regional residential agency.

"Such activity has been reflected in the relative increases in value, and perhaps a recognition that the disparity between London and the regions has peaked," he added.

Over the last 12 months, the average house price in the south east has risen to £240,000 - an increase of 6.7 per cent.ADNFCR-1222-ID-801718079-ADNFCR

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