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The North And South Property Divide
The divide in property prices across the north and south of the UK property market is increasing according to the latest figures.
Whilst property locations such as London have continued to see growth in May - London 0.6%, East Anglia and the South East 0.1% - prompting a national increase of 0.2%, this isn’t the case for all regions.
In fact, in the East Midlands, the South West and the West Midlands property prices have remained flat, whilst in the North East, North West, Wales and the Yorkshire & Humberside, prices have fallen by 0.1%.
In total, 7 out of 10 regions have reported experiencing falling or static property prices.
And as you can imagine these figures are giving a misleading impression of the property market. With national prices on the rise, this is encouraging some property owners to overprice their properties when putting them up for sale, in turn leading to disappointment when these prices are not achieved.
Yet falling property prices don’t have to be viewed negatively…
For property investors and homeowners looking to buy, these falls represent more affordable investment opportunities.
Whilst property locations such as London have continued to see growth in May - London 0.6%, East Anglia and the South East 0.1% - prompting a national increase of 0.2%, this isn’t the case for all regions.
In fact, in the East Midlands, the South West and the West Midlands property prices have remained flat, whilst in the North East, North West, Wales and the Yorkshire & Humberside, prices have fallen by 0.1%.
In total, 7 out of 10 regions have reported experiencing falling or static property prices.
And as you can imagine these figures are giving a misleading impression of the property market. With national prices on the rise, this is encouraging some property owners to overprice their properties when putting them up for sale, in turn leading to disappointment when these prices are not achieved.
Yet falling property prices don’t have to be viewed negatively…
For property investors and homeowners looking to buy, these falls represent more affordable investment opportunities.
Creative licence belongs to: http://www.flickr.com/photos/muckapedia/4229622127/sizes/s/in/photostream/
More about the author of this article
Bindy Jhooti, Property Mentor Delegate
With a total of 4 properties generating £2700/month profit Bindy Jhooti joined Property Mentor after 25 years building a conventional business with a £4m annual turnover. He wanted to start generating a passive income and saw that property was the best choice. As a professional investor people should realize that they need to invest into knowledge before they invest into property. The returns are amazing! Read more
To see a full list of our writers and find out more about them please visit the authors page.
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