Citywire report that house prices are continuing to rise. The gap between north and south is narrowing.
The Halifax notes that house price inflation in London has fallen from 19% in the first quarter of 2003 to 9% for the same period this year, and from 26% to 7% in the South East on the same basis.
House prices continue to rise most rapidly in northern England and Wales. The biggest price increases over the last year have been in the north (36%), Wales(36%), the North West (30%) and Yorkshire and the Humber (28%).
Rightmove, the property website, expects house price inflation to hit 20% this year.
Rightmove note that the price of an average home was £184,582 in early April, £13,674 more than in January; and 50% more than at the start of 2002. Prices rose 2.8% in March, taking annual price inflation to 14.4% from 11.9% in February.
They are hopeful that there will not be a crash, some good news for endowment policy holders then!