2011 brings us significant regional property price variations
Posted on Thu, Jan 05, 2012 @ 10:02 AM
10 regions in England and Wales from the Land Registry House Price Index statistics, report that the property price variation ranges between -5.4 (North East) to +1.4 (London).
When mapping these statistics the great north south property divide seems to be be widening further with average prices in the North East the lowest at £101,954 closely followed by the North West at £112,374. London as always, had the highest average price at £342,749 followed by the South East £206,371..
Can we analyse these stats and make any conclusions, probably not. Here are a couple of thoughts though;
1. London has historically been the leading area for property recovery. London returned price rises in 2011, is this the start of the recovery at last?
2. The amount that property price has decreased is lower than the doom and gloom that the overall economy report and lead us to believe. The property economy seems somewhat steady?
|
Region
|
Annual Change (%)
|
Average Price (£)
|
|
|
|
|
|
North West
|
-4.8
|
112,374
|
|
Wales
|
-1.6
|
118,370
|
|
London
|
1.4
|
342,749
|
|
West Midlands
|
-1.8
|
131,303
|
|
Yorkshire & The Humber
|
-3.4
|
120,057
|
|
South West
|
-1.9
|
172,150
|
|
North East
|
-5.4
|
101,954
|
|
East Midlands
|
-2.5
|
123,352
|
|
South East
|
-0.9
|
206,371
|
|
East
|
-2.3
|
171,619
|
Figures sourced from Land Registry House Price Index