North South Divide Set To Widen
The North-South divide in British house prices is set to widen sharply this year and next, according to a recent study by the Centre for Economics and Business Research (Cebr).
London house prices are set to grow 2.4% in 2012, while properties in the North-East will see values plummet by 2.7%, as the capital remains relatively unharmed by the wider geographical impact of the double-dip recession.
A new study by the think tank shows that homeowners in Yorkshire & the Humber, Wales, the North-West, Scotland and the North-East will see the values of their properties fall in each of the next two years. By contrast, London and the South East will grow by at least 2% in both 2012 and 2013.
London is further protected because it remains a safe haven for wealthy overseas investors. But this does little to protect other areas of the UK where demand from overseas investors is very little. Even low interest rates and a lack of housing supply have failed to prevent property slumps in other regions. The UK average house price change is expected to be an increase of just 1%– an improvement on last year’s 1.5% fall, but way down on the 2007 pre-crash boom of 11%.
s.18 of the Landlord & Tenant Act: why do you need to be aware of it?
With BREXIT on the horizon and with no certainty as to what impact it may have upon the econo... Read More
Residential Sales: 40% increase in sales despite national decline
The Residential Agency team in George F. White Alnwick, have experienced an increase of 40% i... Read More