You are here: Home -

Which cities have seen the greatest growth in house prices?

0
Written by:
23/06/2017
Which cities have seen the greatest growth in house prices?

Manchester is the city that has seen the greatest growth in house prices in the UK over the last year, according to Hometrack.

The Northern city has experienced annual house price inflation of 8.4%, taking the current average property price to £155,000.

The annual rate of growth across UK cities has risen to 4.7%, said the property business, while average prices have risen 3.5% in the last quarter.

Large regional cities recorded the highest price increases over the last quarter – Birmingham (3.8%), Nottingham (3.8%), Manchester (3.3%) and Newcastle (3.5%).

Capital slowdown

However, the annual growth rate in London (3.3%) has hit its lowest point for five years, while Cambridge saw a slowdown in price growth from 13% to 3%.

Hometrack said it believes the slowdown in London has ‘bottomed out’ but admitted that the real growth potential for house prices is currently ‘outside southern England’.

It said the key risks to growth are a ‘negative economic impact from the Brexit negotiations, or an upward shift in mortgage rates’.
 

There are 0 Comment(s)

If you wish to comment without signing in, click your cursor in the top box and tick the 'Sign in as a guest' box at the bottom.

Comments are closed.

How much can you borrow?

A calculator designed to help you understand how much you can borrow towards your property

Your Mortgage Guides

Guide to Offset Mortgages

Download our handy guide to offset mortgages, brought to you in partnership with Scottish Widows Bank

Read More >

Are you on the right mortgage product?

See how much you could potentially save by remortgaging to a different product
Read previous post:
shutterstock_590695565
London homes are cheaper than first-time buyers think!

The majority of first-timers overestimate the cost of a home in the capital

Close