Northern Ireland was the strongest performing nation or region in the UK, displaying yearly growth of 3.4%. However, the North West is not far behind, with an annual increase of 3.3%, making it the best-performing region in England. According to Halifax’s data, the average property price in the North West is now £231,599.
The North-South divide is persisting, with stronger performing regions in the North compared to the South. As such, most price falls are coming from the South of England. The biggest yearly dip in prices was found in Eastern England, registering a -1.1% decline, which was £3541 in cash terms.
London is still the country’s most expensive region for property, as the average price is an intimidating £539,336. However, London prices have plateaued over the last year, and the latest figure shows marginal positive annual growth of 0.1%. High prices have also hurt the rental yield in London, making it a less attractive prospect for investors.
Learn more about the UK property market with our latest buy-to-let area guides highlighting topics such as available investment property in Ellesmere Port and buy-to-let property in Royal Leamington Spa.
North West Property Market Outperforms Other English Regions