{"id":22323,"date":"2018-12-12T11:56:29","date_gmt":"2018-12-12T11:56:29","guid":{"rendered":"https:\/\/www.buyassociation.co.uk\/?p=22323"},"modified":"2018-12-12T11:56:29","modified_gmt":"2018-12-12T11:56:29","slug":"north-and-midlands-asking-prices-rise-while-london-and-south-east-slump","status":"publish","type":"post","link":"https:\/\/www.buyassociationgroup.com\/en-au\/2018\/12\/12\/north-and-midlands-asking-prices-rise-while-london-and-south-east-slump\/","title":{"rendered":"North and Midlands asking prices rise while London and south-east slump"},"content":{"rendered":"

House prices in the West Midlands, Yorkshire and the north-west of England continued to rise while those in the south-east and London slumped again, according to new figures.<\/strong><\/p>\n

The Asking Price Index from Home.co.uk<\/a> returned strong year-on-year data from these three English regions, while\u00a0Wales\u00a0also performed well. Prices in the Principality rose by 7.4% in the last 12 months, with an average Welsh asking price of \u00a3206,069. Houses in Wales are 9.9% higher than at the start of the global financial crisis 10 years ago, and recently reached an all-time high.<\/a><\/p>\n

Birmingham’s bright outlook<\/h4>\n

The performance of the West Midlands reflects a sense of optimism in the region. Asking prices there have risen by 5.2% to \u00a3250,181 over the year in an area that has seen major employers like HSBC and Deutsche Bank relocate operations from London.<\/p>\n

Earlier in 2018, a report from Savills revealed that the average saving per employee for businesses relocating away from London<\/a> is approximately \u00a310,000 for the worker and \u00a310,000 for the property, and another showed that 49% of graduates from the local universities stay in Birmingham.<\/p>\n

Long-term projects like the HS2 rail link<\/a> and development for the 2022 Commonwealth Games in Birmingham<\/a> are also helping fuel interest in the property scene.<\/p>\n

North-west cities faring well<\/h4>\n

The north-west fared well, with prices going up by 4.8% to an average figure of \u00a3203,545. The cities of Manchester<\/a> and Liverpool<\/a> continue to see growth and new investment, while Preston was recently named as the most improved city in Britain<\/a> \u2013 and may get a new tram system<\/a> in the next few years.<\/p>\n

Yorkshire and the Humber saw asking prices rise by 4.7% to an average of \u00a3196,739, but it was a different story in the south-east and Greater London. The area outside the capital saw prices drop by 0.8%, and in London itself they fell by 2.5%, but the results cannot just be blamed on the current uncertain economic climate according to Home director Doug Shepherd.<\/p>\n

\u201cThe London property boom and bust was \u2018baked into the cake\u2019 a long time before Brexit,\u201d says Mr Shepherd.<\/p>\n

\u201cWe expect these losses to extend to 3.5% in 2019 as sentiment worsens and more potential homebuyers play \u2018wait and see\u2019 based on the logical assumption that prices will be lower next year.\u201d<\/p><\/blockquote>\n

Home describe Wales as \u201cthe shining star\u201d of next year\u2019s property market and say prices there could go up by a further 7%. But they also predict that rates of growth in the north-west and Yorkshire will level out in 2019, and that a shortage of rental property in London will forces rents up sharply.<\/p>\n","protected":false},"excerpt":{"rendered":"

House prices in the West Midlands, Yorkshire and the north-west of England continued to rise while those in the south-east and London slumped again, according to new figures. The Asking Price Index from Home.co.uk returned strong year-on-year data from these three English regions, while\u00a0Wales\u00a0also performed well. Prices in the Principality rose by 7.4% in the… Read more »<\/a><\/p>\n","protected":false},"author":3875,"featured_media":21163,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"inline_featured_image":false,"footnotes":""},"categories":[12,42,6],"tags":[341,97],"acf":[],"_links":{"self":[{"href":"https:\/\/www.buyassociationgroup.com\/en-au\/wp-json\/wp\/v2\/posts\/22323"}],"collection":[{"href":"https:\/\/www.buyassociationgroup.com\/en-au\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.buyassociationgroup.com\/en-au\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.buyassociationgroup.com\/en-au\/wp-json\/wp\/v2\/users\/3875"}],"replies":[{"embeddable":true,"href":"https:\/\/www.buyassociationgroup.com\/en-au\/wp-json\/wp\/v2\/comments?post=22323"}],"version-history":[{"count":0,"href":"https:\/\/www.buyassociationgroup.com\/en-au\/wp-json\/wp\/v2\/posts\/22323\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.buyassociationgroup.com\/en-au\/wp-json\/wp\/v2\/media\/21163"}],"wp:attachment":[{"href":"https:\/\/www.buyassociationgroup.com\/en-au\/wp-json\/wp\/v2\/media?parent=22323"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.buyassociationgroup.com\/en-au\/wp-json\/wp\/v2\/categories?post=22323"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.buyassociationgroup.com\/en-au\/wp-json\/wp\/v2\/tags?post=22323"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}