For six years, the south of the country has seen house prices increase at a greater rate than the north, however this year housing analysts are predicting that this trend could be about to change.
London set to see a fall
The Guardian reported this week that house values in the capital are set to fall by 3.6% following “years of over-performance”. The Centre of Economics and Business Research (CEBR), who produced the research, also said that house prices across the country will generally rise by 1.5%. It is the first time in six years that prices countrywide have risen faster than London.
As expected, the London market is being hit by the upcoming election with factors such as Labour’s proposed ‘Mansion Tax’ putting buyers off investing until after the outcome.