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Britain's housing market splits in two as north powers ahead of south

Monday, Jun 18 2018
Britain's housing market splits in two as north powers ahead of south

Britain’s housing market has split in two with strong activity in the north and “challenging” conditions in the south, a new report has revealed. Overall, average asking prices moved up 0.4 per cent from a month ago to a new record high of £309,439, data from Rightmove showed. However, conditions vary significantly between the north and south of the country.

In the north, the number of properties for sale has dropped 4.3 per cent compared with a year ago, giving sellers more power to raise prices. In contrast, available stock in the south has jumped by an average of 17.5 per cent over the same period compared to a year ago, putting downward pressure on prices. Miles Shipside, Rightmove director and housing market analyst, said: “At an initial glance all of this fits with a theme of ‘steady as she goes’ as the spring market concludes.

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