Yorkshire tops English house price league

The Nationwide house price index shows Yorkshire as the top performing English region with a three per cent year-on-year rise in the second quarter of the year. This brings the average house price to £159,780.

This is significantly higher than the UK average rise of 0.6 per cent between the April to June last year and the same period this year.

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Northern Ireland saw the greatest UK gains with a 5.2 per cent increase in house prices, followed by Wales with a 4.2 per cent rise.

Out neighbours in the North West saw a 1.2 per cent rise and North East a 1.8 per cent increase. Three areas saw prices fall. London suffered a 0.7 per cent drop, the Outer Metropolitan area saw a fall by 1.8 per cent. and average values in the Outer South East lost 1.6 per cent.

Robert Gardner, Nationwide's Chief Economist, said: "House price growth across northern England averaged 2.1 per cent, remaining ahead of that in the south, which experienced a 0.7 per cent fall. These trends are not entirely unexpected, however, as they follow several years of sustained out-performance in London and the south, which left affordability more stretched in these areas.”

Monthly Figures

The Nationwide's monthly figures for June 2019 shows that UK annual house price growth remained subdued at 0.5 per cent with a modest 0.1 per cent price rise during the month - which is the slowest pace since February. Robert Gardner said: “Survey data suggests that new buyer enquiries and consumer confidence have remained subdued in recent months. "Nevertheless, indicators of housing market activity, such as the number of mortgages approved for house purchase, have remained broadly stable. “Housing market trends are likely to continue to mirror developments in the broader economy. While healthy labour market conditions and low borrowing costs will provide underlying support, uncertainty is likely to continue to act as a drag on sentiment and activity, with price growth and transaction levels remaining close to current levels over the coming months."