Yorkshire tops UK house price table

The latest UK house price index
The latest UK house price index
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Yorkshire has topped a UK house price table for the first time since 2005

Average UK house prices rose 2.1 per cent year on year in the third quarter of 2018, according to Nationwide.

Yorkshire was the UK's strongest performing region between July and September this year with prices up 5.8 per cent year on year. The average house price in Yorkshire is now £160,263. The North East was the weakest with prices down 1.7 per cent and London values slipped by 0.7 per cent.

Nationwide's Chief Economist Robert Gardner said: "Overall, UK house price growth remained broadly stable, but regional house price developments were more varied.

“For the fifth quarter in a row London prices fell in annual terms, though the decline remained modest at just -0.7 per cent. Indeed, prices in the capital are only about three per cent below the all time high recorded in Q1 2017 and are still more than 50 per cent above their 2007 levels.

“The Outer Metropolitan region also saw a slight year on year fall, with prices down 0.3 per cent in Q3. The weakest performing region was the North, where prices were down 1.7 per cent year on year.

“Yorkshire was the top performing region for the first time since 2005, with the annual price growth picking up to 5.8 per cent. The East Midlands continued to see relatively strong growth, with prices up 4.8 per cent year on year.

“Northern Ireland saw a pick up in annual price growth to 4.3 per cent and was the best performing amongst the home nations. Wales saw a slight softening in growth, with prices up 3.3 per cent. Price growth also slowed in Scotland, from 3.1 per cent in Q2 to 2.1 per cent. England was again the weakest performing nation, with prices up 1.4 per cent year-on -year.”