Mortgage holders in the south enjoy house price rises, notes Halifax
Date:Friday 31st December 2010
Author: Max Freedman
Research by Halifax has shown the south of England enjoyed the best of the house price rises in 2010, with a source from the firm expecting this trend to continue in the coming year.
Suren Thiru, housing economist at the company, made his remarks after the publication of the organisation's County House Price Survey, which listed Conwy in north Wales as boasting the biggest average increase in value of 13 per cent.
But Mr Thiru said: "Many of the counties recording the best house price performance ... are in the south of England, reflecting the general outperformance of the housing market in this part of the country."
In his opinion, property values in the south will continue to enjoy greater increases in 2011, while other regions will see their prices constrained as a result of residents' reliance on public sector jobs, which are set to be affected by spending cuts.
According to Land Registry, the average house price in England and Wales during November stood at £164,773 - a 0.6 per cent drop compared with the previous month.