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Off-plan buying The hype and reality:
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Sheffield:
Article published on Sky news website Monday
August 9 2004.
House
Prices Rocket In The North And Wales
House prices in
northern regions and Wales are reportedly increasing at more than
twice the rate of those in the south.The value of property shot
up by more than 27% in Wales and the north west between the second
quarter of 2003 and the same period of 2004. Meanwhile, prices rose
by nearly 26% in the north and Yorkshire and Humberside, according
to the Land Registry.
But at the other end of the scale the average cost of a home was
just 9.7% more in the south east than it had been a year earlier,
its figures show.
At the same time prices rose by only 12.7% in East Anglia and 13.7%
in Greater London.
The south west reported growth of 14.3%, and both the east and west
Midlands saw rises of 17%.
Overall, Middlesborough and Blaenau Gwent,
in Wales, saw the strongest hikes, with prices there soaring by
59% between the second quarters of 2003 and 2004.
However, in Reading prices were unchanged during the year, and in
Bracknell Forest and Bedfordshire they rose by just 2% and 4% respectively.
Overall the cost of property in England and Wales rose by 17% to
average £175,401 during the 12 months to the second quarter
of 2004.
Overall people expect house prices across the UK to rise by just
1% over the next year.
This is in line with June's prediction - but well down on the 6.6%
rise people expected to see over the coming 12 months in May.
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