The average house price in the North, the North West and Yorkshire and the Humber has increased by 5 per cent since 2004, Halifax has found.
Data from the lender’s house price database showed that the average price in the second quarter of 2014 was £143,496 in the North, £156,272 in the North West and £149,525 in Yorkshire and the Humber.
In Wales, the average house price was £150,068, compared to £164,219 in Scotland and £215,450 in the UK as a whole, up from £186,478 10 years ago.
In terms of property type, flats saw the biggest rise in price, from £157,172 in 2004 to £208,169 in 2014.
Terraced homes were the best-performing property type in the greatest number of regions: the North West, Yorkshire and the Humber, the West Midlands, the East Midlands and East Anglia.
Martin Ellis, housing economist at Halifax, said: “Since 2009, larger property types, such as detached homes, semis and bungalows, have underperformed flats and terraces.
“The demand for such properties has been partly constrained by a widespread lack of equity among homeowners who bought for the first time around the peak in the market.”
Adviser view
Alex Reynolds, independent financial adviser for London-based Advies Private Clients, said: “These averages are largely meaningless because it is so regionalised, even within places such as London. It will not always show what is happening to your individual house.”
| Region | Average house price (all properties), Q2 2014 | Change from Q2 2004 |
| North | £143,496 | 5% |
| North West | £156,272 | 5% |
| Yorkshire and the Humber | £149,525 | 5% |
| West Midlands | £172,084 | 5% |
| East Midlands | £163,317 | 4% |
| East Anglia | £199,628 | 12% |
| Greater London | £388,824 | 30% |
| South East | £271,954 | 11% |
| South West | £214,083 | 7% |
| Wales | £150,068 | 4% |
| Scotland | £164,219 | 30% |
| UK | £214,450 | 15% |
Source: Halifax
