House prices across the Midlands are rising faster than the rest of the UK, a regional breakdown of Halifax’s House Price Index by IHS Markit has revealed.
In the year to Q1 2017 West Midlands prices rose by 10.6%, followed by the East Midlands at 8.0%.
They fell by -1.8% in East Anglia and -0.2% in London.
Tim Moore, senior economist at IHS Markit, said: “The Midlands has emerged as an engine of house price growth in the UK, with property prices rising at the fastest annual pace since the summer of 2015.”
Compared to 2007 levels prices are higher in every region except from Northern Ireland (-42.5%) and the North of England (-9.9%).
Prices in the London and the South East are 42% and 30.3% higher than in 2007.