The strongest house price growth has shifted away from London and the South East folloqinf the EU referendum of June 2016, as buyer preferences have changed, Yopa research reveals.

Significant event

Verona Frankish (pictured), Chief Executive of Yopa, says: “While the Brexit referendum was one of the most significant political events in modern British history, the decade since has demonstrated that local market fundamentals remain the biggest driver of house price performance.”

The data shows the average price of a home in Britain has risen by 37.7% since June 2016, but growth has been far stronger in Northern Ireland, Wales, Scotland and northern England.

Northern Ireland recorded the strongest increase at 69.8%, followed by Wales at 53.2% and Scotland at 42.2%. In England, the North West led the way with growth of 56.7%.

By contrast, London had the weakest regional performance, with average house prices increasing by just 10.3%, while the South East saw growth of 22.6%.

What stands out most from this analysis is how much of the strongest growth has come from areas outside the traditional southern hotspots.”

Frankish says: “What stands out most from this analysis is how much of the strongest growth has come from areas outside the traditional southern hotspots.

“Many buyers have looked beyond London and the South East in search of greater affordability, more space and better value for money, helping drive stronger price growth across Northern Ireland, Wales, Scotland and large parts of northern and central England.

“At the same time, the data highlights just how localised the property market remains. While some areas have seen house prices more than double over the last decade, others have experienced far more modest growth or even declines. It’s a reminder that national trends only ever tell part of the story.”