All regions in the United Kingdom saw rising annual property prices during the first quarter of 2014, according to the Nationwide House Price Index.
London continued to lead the way with an annual price growth of 18 percent, yet property prices in most regions still remain below their 2007 peaks.
Wales was the weakest performing region, with prices up 5.2 percent compared with Q1 2013.
Commenting on the figures, Robert Gardner, Nationwide’s Chief Economist, said: “The price of a typical U.K. house rose by 2.6 percent in Q1, after allowing for seasonal effects. Prices were up 9.2 percent compared with the same quarter of 2013.
“Although all regions saw annual house price growth in Q1, ten of the thirteen regions have yet to surpass their pre-crisis peaks. London, the Outer Metropolitan and the Outer South East are the exceptions."
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Andrew Batt, International Group Editor of PropertyGuru Group,
wrote this story. To contact him about this or other stories email andrew@propertyguru.com.sg
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