Strong growth in Scotland, Wales and North West: Halifax

House prices saw quarterly growth of more than 4 per cent in Scotland, Wales and the North West, the latest regional breakdown from Halifax and IHS Markit reveals.

In Scotland prices rose to £154,24, in Wales they reached £180,812 and in the North West of England they increased to £174,548.

The South East saw limited quarterly growth of 1.8 per cent to £352,774.

But in some regions prices dropped or stagnated between the first and second quarter.

East Anglia saw prices fall by 1.2 per cent to £242,231 and the East Midlands recorded a 1 per cent reduction to £194,475.

In London and the West Midlands prices stalled at £493,580 and £207,014 respectively.

Looking back over the past decade, prices in Northern Ireland remain 11 per cent lower than 2009 levels at £134,332.

Across the North of England prices have risen by 12.3 per cent over the last 10 years to £140,906.

London has seen the strongest growth since 2009 with prices up 104 per cent.

IHS Markit economics director Paul Smith says: “Although at the headline level, the house price index points to a pick-up in the market during the spring, the regional data provide signs of an emerging North-South divide.

“Prices are currently either falling or rising only very slowly in much of the south of England compared to stronger gains in areas such as the North West, Scotland and Wales.

“Moreover, recent trends in the monthly data suggest inflation has likely peaked and, based on the current prevailing UK macroeconomic environment, will slow in the second half of the year, especially as political and Brexit-related uncertainty ratchets up again in the autumn.”



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