Nationwide: Average house price in NW is £140,000

Michael Hunt

The North West is one of the lowest ranked regions in UK house price growth, according to Nationwide building society's latest research.

Nationwide's research for the third quarter of 2010 said that the average house price in the North West is £140,217, representing a quarterly fall of 2.0% which ranked the region as one of the lowest performing regions over the third quarter of 2010.

Nationwide said the average house price in UK was £167,354.

Martin Gahbauer, Nationwide's chief economist, said: "London continued to outperform, maintaining its position as the top performing region on an annual basis. Annual house price growth in the capital was 9.2% in the third quarter, a slight softening from 13.2% in the previous quarter. London saw its sixth consecutive quarterly rise in prices, with a 0.4% increase recorded in the third quarter.

"Continuing the trend seen so far this year, the northern and midland regions generally saw weaker price growth than the southern regions. Yorkshire & Humberside saw the weakest performance out of the English regions, with a quarterly fall of 2.7%. The North remained the weakest region on an annual basis, with prices up 1.0% year-on-year. The Outer Metropolitan was the best performing English region in the quarter, with a 0.7% quarter-on-quarter increase."

The table below shows the full breakdown of North West sub-regions from the Nationwide figures.

Nationwide Sub Regions

Price in 2010 Q3

% change over ten years

Annual % change last quarter

Annual % change this quarter

Cheshire

£187,642

111%

6%

10%

City of Manchester

£191,156

116%

2%

7%

Greater Manchester

£165,984

117%

9%

7%

Lancashire

£150,109

125%

10%

8%

Merseyside

£150,374

119%

4%

4%

Warrington & Halton

£167,303

117%

7%

12%

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