Blackpool, Lancaster and Durham’s property markets are among the fastest growing in the UK, new figures suggest.
Between the first and second quarter of this year the number of homes sold in Blackpool increased by 17 per cent, according to Land Registry data analysed by online estate agents Housesimple reveals.
In research covering 60 towns and cities in England, seven out of 10 areas registering the biggest growth in property sales in the second quarter against the first quarter were in the north of England.
The number of homes sold in Blackpool rose by 17% between the first and second quarter
In Lancaster, the number of homes sold over the period rose by 16.6 per cent, while Durham saw a 15.4 per cent increase.
Swindon is one of only two locations in the south of England which made it into the top ten list, after enjoying an 11.8 per cent rise in the number of homes changing hands over the period. In Gloucester, the number of homes sold rose by 7.2 per cent.
Sam Mitchell, chief executive of online estate agents Housesimple, said: ‘Land Registry figures show clearly that the north-south property divide has been turned on its head.
‘Properties, particularly family homes, are still affordable in the north of England and with thriving local economies attracting workers to the region, stock is being snapped up in major cities such as Liverpool, Manchester and Leeds.’
| Town/City | Region | Percentage increase in properties sold |
|---|---|---|
| Blackpool | North | 17% |
| Lancaster | North | 16.6% |
| Durham | North | 15.4% |
| Swindon | South | 11.8% |
| Hartlepool | North | 8.9% |
| Leicester | Midlands | 8.8% |
| Middlesbrough | North | 7.4% |
| Warrington | North | 7.2% |
| Gloucester | South | 7.2% |
| Newcastle | North | 7.2% |
| Source: Housesimple |
In Lancaster, the number of homes sold between the first and second quarter rose over 16%
Completed sales across major towns in the north of England increased by 3 per cent between the first and second quarter, while in southern towns and cities, sales fell by an average of 4.4 per cent, the findings suggest.
The property market in London and the south-east of England has been ailing for some time, with high prices, stamp duty costs and uncertainty about where the market is heading putting people off.
Official figures published on Wednesday revealed that the average cost of a home in London has fallen by 0.3 per cent in the last year, bringing the average cost of a home in the capital down to £482,000.
While the South East and East of England has seen house price growth slow, prices in these English regions remain among the highest in the country, with the average cost of a home coming in at £328,000 and £294,000 respectively.
The official figures revealed that in the West Midlands, year-on-year prices increased by 6.1 per cent, while in the East Midlands they rose by 6 per cent.
While Housesimple’s findings paint a fairly rosy picture of Britain’s northern towns and cities, official figures have shown that the North East of England remains the only region in the UK where house prices are yet to recover to pre-economic downturn levels.
In Durham, the number of homes sold increased more than 15% over the period