House Prices Have ‘Levelled Up’ Across The Country Since The Vote To Leave The EU

The long-run story of the UK’s housing market is a widening gap between prices in different parts of the country (think the North East compared to London). But all stories have to end. Since mid-2016, house prices in the nations and regions of the UK have stopped diverging, and instead have ‘levelled up’ to a significant degree. Has this levelling up run its course, or does it have further to go? For example, the average house price has risen by just 0.5 per cent in Inner London since mid-2016 (just £2,700 in cash terms), while in the West Midlands house prices have risen by almost a quarter (equivalent to £36,000). Read more on the Resolution Foundation website.

https://www.resolutionfoundation.org/publications/housing-outlook-q1-2020/