--- title: Northern England Leads the Way in House Price Increases description: Northern England leads UK house price growth, with a 2.4% increase, surpassing the South. Savills predicts a 28.8% rise in 5 years, making off-plan units in demand for investors. image: https://blog.magnateassets.com/hubfs/Northern%20England%20Leads%20the%20Way%20in%20House%20Price%20Increases.jpg --- [![logo](https://blog.magnateassets.com/hs-fs/hubfs/logo.png?width=216&height=50&name=logo.png "logo")](https://magnateassets.com/) × - [Properties](https://www.magnateassets.com/en/searchresult) - [Off-Plan](https://www.magnateassets.com/en/searchresult?proType=Off-Plan) - [Completed](https://www.magnateassets.com/en/searchresult?proType=Completed) - [High Yield Investing](https://www.magnateassets.com/en/high-yield-investing) - [HMO (Houses in Multiple Occupation)](https://www.magnateassets.com/en/property-hmo) - [Student Accommodations](https://www.magnateassets.com/en/property-student-accommodations) - [Property Sourcing](https://www.magnateassets.com/en/property-sourcing) - [Property Concierge](https://www.magnateassets.com/en/property-concierge) - [Land Options](https://www.magnateassets.com/en/searchresult?proFor=Local&proType=Land%20Options&country=UK) - [Property Bonds (Promissory Notes)](https://www.magnateassets.com/en/property-bonds) - [Buildings](https://www.magnateassets.com/en/searchresult?proType=Buildings) - [Build-to-Rent Projects](https://www.magnateassets.com/en/build-to-rent-projects) - [Equity Investments](https://www.magnateassets.com/en/equity-investments) - [Funding Partnerships](https://www.magnateassets.com/en/funding-partnerships) - [Locations](https://magnateassets.com/en/location) - Resources - [Blog](https://blog.magnateassets.com) - [Podcast/Webinars](https://www.magnateassets.com/en/video-gallery) - [Guides](https://info.magnateassets.com/guides) - Finance, Tax & Legal - [Mortgage Calculator](https://magnateassets.com/en/mortgage-calculator) - [Mortgages & Finance](https://www.magnateassets.com/en/mortgages-and-finance) - [Property Transfer & Legal](https://www.magnateassets.com/en/property-transfer-and-legal) - [Tax Planning and Set up](https://www.magnateassets.com/en/tax-planning-and-set-up) - [UK Immigration Information](https://www.magnateassets.com/en/uk-immigration-information) - [Managing Your Properties](https://www.magnateassets.com/en/managing-your-properties) - [Furniture Packs](https://www.magnateassets.com/en/furniture-packs) - About Us - [Meet the Team](https://www.magnateassets.com/en/meet-the-team) - [Contact Us](https://magnateassets.com/en/contact-us) - [UK Property Investment](https://www.magnateassets.com/en/for-uk-property-investment) - [Developer Partnerships](https://www.magnateassets.com/en/developer-partnerships) # Northern England Leads the Way in House Price Increases Published by Keith Egan on Jul 10, 2024 The latest Nationwide House Price Index for June reveals that the North of England is at the forefront of house price growth in the UK, with the region recording a 2.4% year-on-year increase. This surpasses the overall growth in England, which stood at 0.6%, and contrasts sharply with the 0.3% decline seen in Southern England. Despite a challenging year for the housing market, with transaction volumes down by around 15% compared to 2019, the North continues to shine. This regional resilience underscores the North’s growing appeal as a lucrative investment hotspot. ### **Savills Predicts a 28.8% Increase Over the Next Five Years** Further bolstering the attractiveness of the North, [Savills](https://blog.magnateassets.com/savills-positive-outlook-for-uk-property-investment-in-2024)has forecasted a significant 28.8% increase in house prices over the next five years. This projection aligns with the region’s robust performance and ongoing regeneration efforts, making it a compelling opportunity for investors. ### **Off-Plan Units in High Demand** In light of these positive trends, investors are increasingly reserving [off-plan units](https://www.magnateassets.com/en/searchresult?proType=Off-Plan)with a strategic view to financing them at lower interest rates in the coming years. The anticipation of reduced borrowing costs, combined with the North's strong growth potential, creates a promising outlook for those looking to enter the property market. ### **Key Highlights from the Nationwide House Price Index** - **UK-wide Growth**: House prices edged up 1.5% in June compared to a year ago. - **Regional Performance**: Northern England leads with a 2.4% increase, while Southern England saw a 0.3% decline. - **Northern Ireland**: The best-performing region overall, with prices up 4.1% year-on-year. - **Mortgage Rates**: Higher borrowing costs have impacted transactions, but the volume of cash transactions has surpassed pre-pandemic levels. ### **Market Analysis** Robert Gardner, Nationwide’s Chief Economist, highlighted the impact of higher mortgage rates on housing affordability. Despite stronger earnings growth, the higher cost of borrowing means that affordability remains stretched. As of now, a typical first-time buyer needs to allocate 37% of their take-home pay towards monthly mortgage payments, significantly above the long-term average of 30%. ### **Looking Ahead** The mixed picture across different regions underscores the importance of strategic investment. Savvy investors are positioning themselves to capitalise on this trend with the North of England leading in price increases and promising further growth. At Magnate Assets, we offer exclusive opportunities to invest in off-plan units across Northern England, ensuring you can secure properties at today’s prices with the potential for substantial future gains. Contact us today to learn more about how you can benefit from these promising market conditions. **Secure Your Future in Property Investment with Magnate Assets** Don’t miss out on the booming opportunities in the North. With expert guidance and exclusive deals, Magnate Assets is your trusted partner in navigating the dynamic UK property market. Topics: [Insider](https://blog.magnateassets.com/tag/insider), [UK Property](https://blog.magnateassets.com/tag/uk-property), [Off-Plan Property](https://blog.magnateassets.com/tag/off-plan-property), [Real Estate Market](https://blog.magnateassets.com/tag/real-estate-market), [Market Trends](https://blog.magnateassets.com/tag/market-trends), [Rents](https://blog.magnateassets.com/tag/rents), [Mortgage](https://blog.magnateassets.com/tag/mortgage), [Investment Strategies](https://blog.magnateassets.com/tag/investment-strategies), [Overseas Investors](https://blog.magnateassets.com/tag/overseas-investors) ![Keith Egan](https://blog.magnateassets.com/hubfs/image.png) Written by [Connect on LinkedIn ↗](https://www.linkedin.com/in/keith-egan-a4585613a/) [Keith Egan](https://blog.magnateassets.com/author/keith-egan) Keith Egan has spent 30+ years in senior real estate roles across the UK, Dubai and the MENA region. As Director and Co-Founder of Magnate Group, he leads Magnate Assets focused on UK residential investment, lead generation and digital marketing and the Magnate Investments Division, Magnate's development finance and structured investment arm. Keith specialises in connecting landowners, developers and investors with regulated, technology-driven funding structures and fractional ownership solutions, bridging institutional-grade UK real estate with a wider pool of domestic and international capital. - #### Share: - [![](https://f.hubspotusercontent10.net/hubfs/445465/icon/facebook.svg)](http://www.facebook.com/share.php?u=https://blog.magnateassets.com/northern-england-leads-the-way-in-house-price-increases) - [![](https://f.hubspotusercontent10.net/hubfs/445465/icon/twitter-sign.svg)](https://twitter.com/share?text=Northern%20England%20Leads%20the%20Way%20in%20House%20Price%20Increases&url=https://blog.magnateassets.com/northern-england-leads-the-way-in-house-price-increases&hashtags=weareawesome&via=bluleadz) - [![](https://f.hubspotusercontent10.net/hubfs/445465/icon/linkedin.svg)](http://www.linkedin.com/shareArticle?mini=true&url=https://blog.magnateassets.com/northern-england-leads-the-way-in-house-price-increases) [Back to Blog](https://blog.magnateassets.com) ### Popular Blogs \[Insider, UK Property, Off-Plan Property, Real Estate Market, Market Trends, Rents, Mortgage, Investment Strategies, Overseas Investors\] - 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