Price recovery ‘will not be confined to south’

Suggestions that a north-south divide in the property market is starting to emerge have been rejected.

Marketing manager at online change of address service James Wrightson said that while surveys such as a new report by Savills might appear to indicate that the south is prospering while the north is in the doldrums, this will soon change.

He stated: “Sooner or later inevitably the vitality will flow north,” arguing that the “visibility” of a market recovery in the south will gradually persuade those in other regions that matters are improving and encourage the market there as well.

Such a development may be good news for those keen on taking out mortgages in the north, as it would suggest that any properties they buy now will enjoy the sort of price rises being seen elsewhere before too long.

Recent Land Registry figures suggested that there was a divide in England during August, with prices going up in the three southern regions, but down in the three northern areas.

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