Nine of the 10 towns which saw the biggest declines in prices are outside the South, reflecting the continued regional divide in the property market.
– Halifax housing economist Martin Ellis
Nationally, conditions in the housing market have been largely unchanged over the past 12 months with little overall movement in either house prices or sales for the second consecutive year. This picture, however, conceals considerable local differences.
House prices are expected to be strongest in London and the South East as this part of the country performs best in economic terms.
He expects continuing broad stability in house prices nationally in 2013, with the North/South divide in price performance likely to persist next year.