Prices slowly rally across the region
The Nationwide index reveals that house prices are up 1.9 per cent on average in the past three months and 9.5 per cent over the past year.
In Yorkshire, prices rose 1.6 per cent over the last quarter and 7.2 per cent over the last 12 months. Martin Gahbauer, Nationwide’s chief economist, says: “Over the last four quarters, annual house price growth in the South of England (London, Outer South East, Outer Metropolitan, South West and East Anglia) has outpaced that of the North of England. In the second quarter of 2010, house prices in the South were up 12.3 per cent year-on-year, while in the North they were up 7.8 per cent year-on-year. The South has seen a stronger recovery since the downturn.”