Prices to vary by region, says bank

There will still be house price variation in the UK despite the overall market being flat, Halifax has said.

Figures published by the bank for each of the UK regions shows that Northern Ireland, Scotland and the south-east of England saw the highest house price inflation in 2007, while the east midlands, Yorkshire and the Humber and the north-west saw the worst performances.

Halifax predicted that the same relative performances would apply in most of these cases, with Scotland and the south of England seeing small price rises while the midlands and north saw small drops in prices.

The loss of house price values in some regions may tempt those looking to get on the housing ladder to consider the self build option.

Predictions for house price performance for 2008 have varied, with some commentators forecasting significant hosue price falls.

In contrast, surveyors CB Richard Ellis predicted an overall annual price increase of three per cent last week.


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