Northern house price growth eases as regional gap narrows – e.surv
Yorkshire and the Humber was the top performing region, with prices up 4.0% year on year, followed by the North West at 3.6%.
House prices kept rising across Great Britain, with the North holding its spot as the strongest market, according to the latest House Price Index (HPI) from e.surv.
In July, the average house price reached £329,500 with annual growth at 1.7%.
Yorkshire and the Humber was the top performing region, with prices up 4.0% year on year, followed by the North West at 3.6%.
Both saw growth slow when comparing the most recent quarterly change with the average quarterly pace over the past 12 months.
Similar signs of slowing appeared in parts of the North, Midlands and Wales.
Prices continued to rise in these regions, but the pace eased after a strong period.
Rob Owens, head of research at e.surv, said: “Momentum is easing in the regions that have led the market this year.
“Yorkshire and the Humber and the North West remain the strongest-performing regions, underlining the ongoing appeal of more affordable markets outside the South East.
“Recent growth is now running below the pace seen over the past 12 months, so the gap is narrowing from the top rather than because weaker markets are catching up.”
Owens added: “The latest data shows house prices are still rising across these areas, but the pace is becoming more measured than earlier in the year.
“Looking closer at cities, this easing of momentum is present across Sheffield, Liverpool, Birmingham, Newcastle and Bristol, and is less pronounced in Leeds and Manchester.
“Overall, northern England remains Britain’s house price growth leader, but momentum is now easing at the top of the market.”
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