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Thursday, 24 April 2014

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House prices rise in South Lakeland

A part of Cumbria is one of just two in the UK to see house prices rise since the peak of a boom back in 2007.

A new study by the Halifax said South Lakeland and Rochford, in Essex, were the only two local authority districts to see rises.

Prices went up by 1 per cent in south Cumbria and 0.1 per cent in Rochford – described as “marginal” by the Halifax.

The study noted a “distinct north-south divide” with those homes weathering the tough economic conditions best mostly located in southern England, while Northern Ireland dominated the list of places worst hit.

Exceptions to this included popular holiday areas such as South Lakeland, the Derbyshire Dales and Ceredigion, where demand from retirees and those buying second homes has helped to keep prices up, the report said.

The nine worst performers were all in Northern Ireland.

Across the UK, house prices have dropped by just under a quarter (24 per cent) since 2007 to average £172,427.

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