Whilst there has always been disparity between house prices across the UK, this is the first time that the gap has hit £150,000. With the average price in the South now doubling that of the North.
As prices across the South West, South East and East Anglia have increased eight per cent annually their northern counterparts have struggled to achieve one per cent.
The overall picture however points at house price growth starting to slowdown and fall more in line with wage growth. But there remains serious concerns about the continued lack of stock available in the market which will continue to drive prices higher.