The north-south divide when it comes to property prices is still firmly in place and can make a difference of £200,000, new research has revealed.
Looking into where exactly the divide now lies, online estate agent eMoov.co.uk found that there is a clear £200,000 property gap between the North and the South of the UK, once North Yorkshire, Edinburgh, East Lothian, the Vale of Glamorgan and Monmouthshire are taken out of the equation.
The north-south divide starts in Bristol and runs up the border with Wales through Herefordshire and Shropshire. It then runs back down through Worcestershire below the West Midlands by Leicestershire and Rutland to Norfolk and the East Coast.
According to latest Land Registry data, the average house price south of this divide is currently £295,395, having gone up by 9% in the last year. But this falls to £146,344 in the North, where prices went up by a more modest 4% over the past year.
Russell Quirk, eMoov founder and chief executive, says: “With the divide often discussed across the industry itself, it’s important that there be a clearer definition of what and where it actually is.
“It is widely considered that the North is playing catch-up with the South where the divide is concerned and of course, there is good reason property may command a higher price in particular areas of the UK.
“However, for many struggling to get that first foot on the ladder, this research highlights the additional hurdles facing those south of the line and, in this instance, why heading north is a much more attractive proposition. Yes, property prices are climbing at a slower rate, but that is of little concern to those that don’t own a property.”
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