House prices surge in top-performing areas

The average house price in the ten top-performing local areas between 1998 and 2008 rose by 219%, or £146,984, from an average of £67,178 in 1998 to £214,162 a decade later, according to a study by the Halifax. This was 34% higher than the £109,413 (195%) increase in the average house price in the ten areas with the smallest rises in economic activity. Suren Thiru, housing economist at Halifax, said: "Unsurprisingly, house price growth over the past decade has been stronger in the areas that have seen the biggest increases in economic activity. "The North-South divide that has open...