‘House prices in England and Wales hit record high’ ran a headline from last month as the housing market overtook its pre-financial crisis peak. But beneath the surface of this news lies vast variation in the growth of property prices across the different regions of Britain.
Of those who have owned property since the mid-90s or earlier, some have seen modest gains, while others have struck it lucky with unexpected supercharged growth. It’s impossible to say for sure where these trends are headed in the years ahead. But journalists reporting on the record prices were able to find some ‘experts’ who caution that ‘boom and bust’ is still a worry, while some believe the housing market is ‘robust’.