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Last Updated: Sunday, 28 September, 2003, 12:01 GMT 13:01 UK
House prices 'soar 138% in decade'
The north is now overtaking the south for price growth, research says
The price of the average house has surged 138% in the last decade, Halifax Estate Agents figures show.

The average price of a house in the UK stood at 154,503 during April to June this year, compared to 65,025 in the same period in 1993.

But, while the south remains the area with the most expensive prices, the north has seen the greatest growth in prices, the study found.

Surrey is the most expensive county in the UK, with the average property costing 281,451, closely followed by Greater London at 243,346.

TOP THREE COUNTIES WITH BIGGEST PRICE RISES*
Dorset, south west - 218% to 197,318 from 61,999
Cornwall, south west - 213% to 161,691 from 51,640
Co Armagh, N Ireland - 213% to 95,165 from 33,173
*Average prices in Q2 2003 compared with Q2 1993
In contrast, West Glamorgan is the least expensive with the average home costing 89,621. South Humberside is the second cheapest with a price tag of 91,498 on the average house.

But after analysing 10 years of house price data across 60 counties, Halifax Estate Agents found northern counties have moved ahead in terms of price growth.

'Outperform'

Over the last 12 months, house price inflation data showed the average cost of a house in Dumfries and Galloway has risen by 48%, closely followed by Dyfed at 44% and South Humberside at 36%.

Meanwhile, in the south, prices in Wiltshire have increased by a meagre 2%.

But the study did add that the figures were derived from an arithmetic average of prices of houses on which an offer of a mortgage has been granted.

BOTTOM THREE COUNTIES WITH LOWEST HOUSE PRICE RISES
Grampian, Scotland - 47% to 100,420 from 68,517
Central Scotland - 55% to 90,198 from 58,316
Strathclyde, Scotland - 58% to 91,912 from 58,124
As the prices are not standardised, the average price can be affected by changes in the sample every three months.

Halifax Estate Agents managing director Jane Pridgeon said: ""There has been a huge variation in house price growth across the country over the past 10 years.

"But there is little doubt that the majority of counties have done very well with around 80% seeing increases of over 100%.

"The past 12 months has definitely been 'the year of the north' as house prices in northern counties have generally outperformed the southern counties, slightly narrowing the traditional north/south divide."


SEE ALSO:
House prices shake off summer lull
16 Sep 03  |  Business
Parental mortgage aids young buyers
23 Sep 03  |  Business
Land shortage claims 'groundless'
22 Sep 03  |  Business
Councils 'ban house building'
17 Sep 03  |  England


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