North East only region to see house prices fall
House prices fell in the North East by 1.3% over the 12 months to February 2014, according to data from the Land Registry.
North East house prices fall - now average £97,332
The North East was the only region in the UK where house prices fell over the last year, with a drop of 1.3% taking the average house price to £97,332.
By contrast, the national average house price rose by 5.3% to £170,000 in the 12 months to February, according to data from the Land Registry.
Ed Stansfield, chief property economist at Capital Economics, said the figures show the "huge divergence in price pressures across the country".
He pointed out that unlike some house price surveys, the Land Registry figures include cash buyers, rather than just people who use a mortgage to buy a property.
More top news
-
Staff at care home damaged by fire praise the generosity of local community
"I would personally like to thank the local community for their amazing donations of food, toiletries and clothing. "
-
Hays Travel to recruit 700 apprentices and travel agents
Owners John and Irene Hays say there is ''light at the end of the tunnel'', after the pandemic forced them to close 650 UK stores.
-
James Cook statue’s fate to be decided by Alaskan indigenous people
There has been resistance to calls to dismantle memorials to the explorer.