House prices in South significantly higher than in North

A recent report has shown that house prices in the South of England are far higher than prices in the North of the country, reflecting the ever-widening gap between property prices in the two different parts of England.

Figures suggest that the gap between house prices between the two areas has widened by £15,000.

One building society claims that the cost of a property in the South is an average £90,000 higher than the same sort of property in the North, and this has raised concerns over lack of affordability for those looking to live in the South of England.

The figures show that house price growth in the South is three times higher than in the North, with an average rise of 9% compared to 3.4% in the north.

Demand for housing is still quite high in the South, but the cost of housing means that affordability is very low.

London is one of the areas where affordability has become a real problem, and one industry official stated: ‘Very poor affordability conditions, along with turmoil in financial markets which have cast doubt on bonus and employment prospects in the City, mean that London’s housing market will continue to weaken.