“Overall, house prices climbed 4.9% over the past year. But prices actually fell in five of the 11 cities measured in the index. Halifax led the way, with a 3.5% slide.”
“Wolverhampton saw the greatest monthly price fall of – 3.4%.”
The first quote is from Canada’s Huffington Post, the second the most recent Land Registry house price report for England and Wales.
It appears that when it comes to house prices Canada’s East West divide mirrors England’s own North South distortions. With Canadian ex pat Mark Carney saying that rising house prices here are the biggest threat to financial stability will he bite the bullet and target measures at the affluent South or will everyone get the same medicine even if it makes their malaise worse? Unfortunately, his track record in Canada doesn’t give much cause for optimism.