Regional Breakdown of Nationwides June Report

Nationwide has described the market as stagnant, with sellers continuing to seek high prices and buyers continuing to seek more discounts.
Prices cooled across all of the UK in the second quarter of 2005.

“Regionally, the rate of growth of house prices more than halved in East Midlands, Outer South East, East Anglia and Wales.

Scotland and Northern Ireland are now the only areas in the UK where annual house price growth remains in double digits. This is in contrast to the first quarter where eight out of the thirteen regions experienced annual house price inflation above 10% and
illustrates how the market is cooling.

The picture in Wales however, was quite different. The annual rate of growth almost halved from 14.7% to 7.4% and two Welsh regions, Swansea and Neath-Port Talbot, experienced house price falls of more than 10% in the last year. But in the North and West of Wales there was a different picture with price increases of 20% and 12% in Wrexham and Carmarthen respectively.

Prices in London were the most stable in the second quarter with an annual rate of growth of 3.5% - only 0.3 percentage points lower than in the first quarter. London and the South Easterly regions now have the slowest rates of growth in the UK, with the Outer South East region having the slowest annual rate of house price inflation in the second quarter at 2.5%.”