London house prices fall as Yorkshire market surges 5.8%
Subdued economic activity and ongoing pressure on household budgets likely to drag on average prices, says Nationwide.
House prices in Yorkshire and Humberside have recorded the fastest growth of anywhere in the UK while the London market continues to fall, according to an index from Nationwide.
UK house prices edged up only slightly in September, growing 0.3 per cent to £214,922.
Annually, the North East of England was the worst-performing region with prices falling 1.7 per cent, compared to a rise of 5.8 per cent in Yorkshire and Humberside at the top end - the first time since 2005 that the region had seen the fastest growth.
One-in-three chance of London house price crash, experts say.
Average house prices across the UK rose 2 per cent over the past year while the average in London fell for the fifth consecutive month, on a year-on-year basis.
The average price of a home in the capital is now £468,544; 3 per cent below a peak reached in 2017, but still 50 per cent higher than in 2007.
Robert Gardner, chief economist at Nationwide, said he expected UK house prices to grow just 1 per cent over 2018.
https://www.independent.co.uk/news/business/news/uk-house-prices-london-fall-yorkshire-rise-nationwide-index-a8564501.html