North-south divide emerges in property market

It may be easier to carry out DIY house selling in some parts of the country more than others, as figures show there is a north-south divide in property prices.

The Rics Housing Market Survey shows that London was the only region with positive house price expectations last month, followed by the south-east of England.

Meanwhile, Yorkshire and Humberside had the most depressed house prices in the UK.

"Part of the reason for the relative strength of the London property market particularly the prime segment is its enduring appeal to overseas investors," explained Rics economist Himanshu Wani.

He emphasised that the figures also reflect the economic recovery of the country as a whole, as spending cuts start to bite in some regions.

Similar conclusions were recently drawn by the Savills prime London index, which found that foreign investors are keen to get their hands on property in the city.

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Published on: March 30, 2011

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