North-South housing divide stark as ever

THE chasm between house prices in the north and south of the UK is as wide as ever, according to a new report published yesterday.

Not one of the ten streets with the lowest average property values in England and Wales was in the south of the country, the property research website Mouseprice Most Affordable Street Rankings showed.

The most affordable street in the country is Fernhill, in Glamorgan in Wales, with an average property price of £28,600, followed by Oxford Street in Brierfield, Lancashire, where the average house would set buyers back £32,800.

As a region, the North East provides the most affordable housing, with the average house price in the ten least expensive streets in the area standing at £36,050. That is in stark contrast to an average price of £67,020 among the ten least expensive streets in the affluent South West, and £101,140 in Greater London.

The report added that breaking the £100,000 barrier in London marked a small but significant step forward for the property market after it crashed over the course of the crisis. Last year, the comparable average property price figure for the capital was £99,740.