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North-South property price divide

Windsor and Maidenhead is the area with the highest average property value in the country, outside of London.

By Donia O'Loughlin | Published Sep 28, 2010 | comments

The average house price in Windsor and Maidenhead is currently £409,045, only £3,411 below the average London property price, data from Zoopla has shown.

Average property prices in North Lincolnshire currently stand at £124,921, the lowest in the nation. Its 70 per cent less than London prices and 45 per cent below the national English average of £225,045.

All the top 10 wealthiest housing markets are located in the south, according to Zoopla, including South Gloucestershire at £384,102, Surrey with £357,863 and Hertfordshire at £317,687.

By contrast, the north is home to the cheapest housing markets in the country with Hartlepool at £124,949; Durham, £133,257; South Yorkshire, £127,413; and Nottinghamshire at £137,949.

Average property prices in England as a whole remain 8.7 per cent below their peak levels of three years ago, representing an average loss in value of £21,303 over the past three years.

Nicholas Leeming, commercial director at Zoopla, said: "In terms of both current house prices and market performance over the past three years, there is a clear north-south divide.

"The manufacturing base of the Midlands was severely hit by the recession and heavy job losses have taken their toll on the region’s economy.

"As the economy strengthens the housing market will likely perform best in those areas least sensitive to the upcoming public sector cuts and the property divide looks set to get even wider."

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