While the overall UK average for February is promising, growth is still stalling in some regions, while others are experiencing higher-than-average price increases, according to Halifax’s index. Looking at regional differences is key when considering a real estate investment strategy.
The North West saw the highest annual growth in England. The region’s house prices rose by +4.4%, bringing the average to £232,128. The North East also experienced a substantial increase of +4.2%.
London is the region with the highest average house price, standing at £536,996. Annual growth was lower than the UK average, coming in at +1.5%, and this is the first positive annual growth seen in the region since January 2023.
The biggest yearly price dip was recorded in Eastern England. Properties in this region averaged £329,927, a drop of -0.8%, or £2794 in cash terms.