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NewsNorth-south property divide 'will continue to grow'
North-south property divide 'will continue to grow'
Posted by Craig Williams
Prospective homeowners in the UK are likely to see the gap between the average prices of properties in the north and south of the country continue to get bigger in the near future.
That is according to Vernon Pethard, managing director at online resource New Homes for Sale, who believes this geographical discrepancy will only widen further in the wake of the global economic downturn, as demand from abroad for homes in London is placing "added pressure" on values.
Mr Pethard explained that "a lack of new homes coming onto the market in relation to demand" will result in costs growing in the capital and the south-east region for the foreseeable future.
This comes after LSL Property Services revealed last week (May 6th) it is to grow its land and new homes department because it holds the belief that this market will "expand rapidly" over the course of the next 12 months.
11/05/2011 15:27
News category: Property