Towns like Sale, Wilmslow, Blackburn and Bolton all saw house prices rise by at least six per cent over the year, with prices in these towns typically around eight times the local salaries.
However, the biggest increase of all was seen in Billingham, in County Durham in the north east. Over the year the value of its homes jumped by an average of 12.3 per cent, from £192,717 to £216,328. Prices here are also around eight times that of the average local salary.
Second place was taken by Ilkeston in Derbyshire, where prices jumped 9.1 per cent to £272,091 from £249,439.
In stark contrast, the areas that saw the biggest falls in house prices were dominated by the south ‒ in fact all of the bottom ten are found in London or the south east.
The biggest fall took place in Harrow, where average prices fell 3.6 per cent from £273,930 to £263,964.
It was followed by Enfield, where prices dropped 3.5 per cent, while other towns to feature in the bottom ten included Pinner, Bognor Regis and Oxford.
Russell Galley (pictured), managing director of Halifax, said that the contrasting fortunes of the north and south “bucks the trend” seen in recent years and marks a step towards achieving more balance in regional house prices.
He continued: “While this may be good news for those looking to sell in regions such as the north west, it’s prospective buyers closer to the likes of London who may be hoping that a property purchase is becoming that little bit more affordable.”
