Britain’s splintered homes

Britain's homes are becoming increasing splintered. Prices rising in the South and falling in the North have led to a divided market of real estate values, according to Hometrack's latest report.

While London saw few price drops in March, alongside East Anglia and the South West, the Midlands saw them fall, while almost 50 per cent of Yorkshire and Humber's real estate decreased in value.

As a result of the extreme variations, prices rose an average of just 0.2 per cent across the country. The time taken for houses to sell is equally varied, with 11.6 weeks in the Midlands and the North a strong contrast to fewer than six weeks in the cpital.

Richard Donnell, director of research at Hometrack, comments: "The housing market is not firing on all cylinders nationally. The divergence in the relative strength in northern and southern England is set to remain."

"We expect prices to track sideways in the short term, with the outlook for the second half of the year hinging on households' expectations for the economy and their incomes."

"The Hometrack report never gives house prices," notes Estate Agent Today , but adds that "in March, London prices rose 0.5% over the month – the highest monthly increase since April 2010."

These values may be distorted by the Stamp Duty on £2m-plus properties, which has since increased by 2 per cent, but Hometrack's survey still points to a serious divide in the UK's housing – and one that is only getting bigger.

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