London has now become one of the five worst cities for house price growth whilst Birmingham shows the biggest increase, a new analysis has revealed.
Property prices in London have only increased by 2.9% during the first six months of 2017, Hometrack’s recently published UK Cities House Price Index states.
Birmingham, however, has had a strong start to 2017 as the city experienced the strongest house price growth in the country with an increase of 6.1% over the first half of the year or 7.8% over the last twelve months to June.
The rest of the country’s cop five cities for house price growth are Edinburgh at 5.5% since January 2017, Leeds at 4.8%, Manchester at 4.7% and Bristol at 4.6%.
And whilst London experienced a rather slow increase in house prices it is still the most expensive city to buy property in the UK. The capital’s drop in house price growth is mainly due to very limited affordability and any uncertainty that came with the Brexit vote.
The UK’s 20 key cities analysed by the index shared an average house price growth of 5.0% during the first half of 2017 and of 5.1% since June last year.
Here’s a full overview of the Hometrack figures: