Qualified advisers answering your
Financial Questions
call 0800 092 1245

North-South house price gap widens


The price gap between houses in the North and South of the UK has widened, according to the Nationwide, and now stands at over £100,000.

House prices in London and across the rest of the south of the UK have been rising aggressively, and this has meant that the national average has been raised accordingly. However, parts of the north of the UK have seen prices remain stagnant or rise slowly over the same period, meaning the gap between the two demographics has widened.

Prices across the UK are still gathering pace and are now rising at the fastest rate since July 2010, according to the Nationwide. This has caused fears of a ‘housing bubble’ over recent months, and critics think this could limit the affordability of houses to a large portion of prospective buyers.

The difference between the north and the south of the UK is now as wide as it has ever been, and the average southern home is now worth 74pc more than an equivalent home in the north. What this means is that someone living London could on average swap their property for three equivalent homes in the cheapest region of the UK, Northern Ireland.

The average home in the capital will now cost £331,000, while the average property price in Northern Ireland is just £109,000. The average price of a UK home is now £172,000, a rise of 0.9pc in September compared to August, according to the Nationwide.

The Nationwide’s chief economist, Robert Gardner, said that while the gap was widening between the north and the south, the increase was becoming more widespread. He said: “The gap between house prices in the north and the south of England reached a new high in Q3, rising above £100,000 for the first time”. However he continued: “There are signs that the pick-up is becoming increasingly broad-based.”

There was also the warning of affordability if the market continues to grow in strength: “The risk is that if demand continues to run ahead of supply, affordability may become stretched”, he continued

If you are currently looking for a mortgage or have any questions about buying a home, contact one of our whole of market mortgage advisors who will help you with your query.

Share this..

Related stories

Financial Guides

Financial Calculators

Our useful calculators can help you get your finances in order:

Latest News


Helpful new tax year facts that could affect you and your money

Blog | Seven helpful new 2016/2017 tax year facts that could affect you and your money. Our recent online blog shares a brief outline on how to stay up to date.

Read more

Useful Links

Popular Searches

Please Enter More Details

Enter More Details