PREDICTING what will happen to house prices is not by any means an exact science.
But there can be no doubt that over the past decade money put into property has on average produced a better return than most other types of investment.
In the past year the continuing rise in house prices in the South, and particularly the South East, has begun to slow down - and not before time.
Enormous hikes seen since 1990 were a major factor in widening a North/South economic divide in this country which was in danger of becoming a yawning chasm.
Now we see that although East Lancashire remains one of the cheapest areas of Britain in which to live estate agents say our homes have seen massive price rises during 2004. Increases of above 34 per cent in Accrington and a whopping 41 per cent for Darwen are claimed by the Halifax.
This growth is welcome although it may not go far towards narrowing a gap which still sees the average Darwen price of £99,357 in contrast to a ridiculous comparable figure for Gerrards Cross in Buckinghamshire of £627,660.
That sort of gap has to be reduced.
Comments: Our rules
We want our comments to be a lively and valuable part of our community - a place where readers can debate and engage with the most important local issues. The ability to comment on our stories is a privilege, not a right, however, and that privilege may be withdrawn if it is abused or misused.
Please report any comments that break our rules.
Read the rules hereComments are closed on this article