Halifax finds property prices narrowing north-south divide

14 April 2005
The UK north-south divide, long considered to be reflected in house prices, appears to be narrowing, according to property values data released by Halifax.

In the last year property values in the Scottish town of Belshill in Strathclyde have leapt by a huge 46 per cent, going from £72,508 to £105,698, Halifax found.

The significant increase makes Belshill the home of the fastest increasing property prices in the UK, followed by three other Scottish towns, three in Wales and three in the north of England.

No southern English town made it into the top ten, indicating that housing market differences may be becoming more even across the UK.

"It has been areas in Scotland, Wales, Northern Ireland and northern England that have recorded the most buoyant housing market conditions over the past year. As a result, the north/south divide has narrowed to its smallest for seven years," said Martin Ellis, Halifax chief economist.

Price increases in Northern Ireland, where property values have increased by a quarter over the last year, and Scotland (up 23 per cent) are significantly more than the five per cent increase in the south-east and the tiny one per cent seen in Greater London.

Mortgage deals might be the same across the country but you'll find the best ones by clicking here.

track© DeHavilland Information Services plc