North-South house price gap widens

The gap between house prices in northern and southern England has moved above £100,000 for the first time, according to the Nationwide.

The building society said that house price growth was accelerating, with an average annual increase of 5% in the UK in September.

The typical property in London and the surrounding area, the South East of England, the South West of England and East Anglia combined, is more than £100,000, or 74%, higher than a home in the North of England, the North West, Yorkshire and Humberside, and East and West Midlands combined.

Price rises are driven by southern regions of England. Yet all regions recorded house price growth in the third quarter of the year - the first time this has happened in nearly six years.