UK city house prices: The winners and losers of 2017 revealed

 

House price growth across the UK’s 20 major cities has remained largely resilient this year, with the strongest performances in the Midlands and north.

As predicted earlier in the year, Hometrack’s UK Cities House Price Index has revealed that the north of England and the Midlands have seen the highest rise, while London has been held back due to factors such as Brexit uncertainty affecting the capital’s global financial status, as well as a slowing prime property market.

Topping the list for the UK were Glasgow and Edinburgh, which saw average annual property price growth to November of 7.9% and 7.6% respectively. The average home in Glasgow now costs £122,800, while in Edinburgh it is £220,200 – both below the UK average estimate of £223,807.

In England, Leicester and Birmingham in the Midlands were the best performers in terms of house price growth between November 2016 and November 2017. The average house in Leicester saw an annual price rise of 7.5% to £167,400, while Birmingham properties had a 7.3% increase to £156,500.

Will the divide grow or narrow?

These were followed by promising price growth from the north of the country, led by Manchester at 6.6%, Nottingham at 6.4% and Liverpool at 6.2%.

London was fourth from the bottom of the list, with average year-on-year price growth at 2.7%, making the average home there now cost £491,600 – more than double the national figure.

Predictions are varied for 2018, but JLL and Savills both expect modest growth next year across the UK. However, Savills predicts a 2% drop in house prices in London, while JLL thinks it will remain flat.

Richard Donnell, research and insight director at Hometrack, said: “As we move into 2018, increases in regional city house prices is likely to offset very low nominal growth in London.

“There is 20-25% of additional upside in house prices in regional cities with a simple adjustment on affordability metrics.”

Highgrove Mews

High Net Yield Freehold Houses

  • Commutable to London (27 mins to central Paddington station)
  • Rental demand extremely strong with large industry presence in Reading
  • Freehold with 4% net yield

£284,955 - £457,000

St Petersgate – Stockport Manchester

New Launch - Stockport Manchester, apartments from £160,000

  • Discounted launch prices from £160,000
  • Excellent transport links with 3 trains per hour to London Euston and only 9 mins journey to Manchester Piccadilly
  • Experienced development team

Assured Rent Housing Association Leases

Assured Rent Housing Association Leases

  • Assured rent & no rental voids
  • Tenant damage cover & newly refurbished inline with requirements of a corporate sitting tenant
  • Free property and lettings management

From £62,000

Emerging Birmingham Commuter Town With Properties From Just £104,000

The emerging Birmingham commuter town where properties are selling in an average of just 24 days

  • A collection of 62 two bedroom apartments and 28 one bedroom apartments.
  • DE14 is one of the fastest selling postcodes in the West Midlands.
  • 23 minute train journey into Birmingham New Street Station.

Properties from £104,000

Mill, Stockport

The Northwest's emerging property hotspot

  • Discounted off-plan 2-bed prices from £162,000
  • Completion date - Q4 2021
  • Rental yields - 6% plus

Discounted off-plan 2-bed prices from £162,000

South Central – Birmingham City Centre Apartments

Highly anticipated 28 storey launch in Birmingham City Centre with an impressive roof garden and communal facilities.

  • 154 units across 28 storeys
  • Residential multi-media community room, gym, roof garden and sky cinema
  • Excellent future connectivity via the metro system to other key transport hubs and locations around the city

from £205,800

ba-

Talk to us

Speak to our UK property experts today: 

+44 (0) 333 123 0320

Open from 9am-6pm GMT

+852 9865 4446

Open from 9am-6pm HKT

Stamp Duty Calculator

.

Unlock members only investment opportunities and full development details. Join now – it’s free, quick and easy.

Login

Not a member? Sign up for free

race

UK city house prices: The winners and losers of 2017 revealed

Example

By submitting your details via this online form you agree to be contacted via email/phone/SMS by Direct Marketplace Ltd t/a BuyAssociation in relation to property investment and property developments . We do not share your personal details with third parties.  To view our full Privacy Policy click here.