These cities are leading the way for UK house price growth…

 

The latest house price index from Hometrack provides further evidence of the vast regional differences across the UK’s housing market.

In the year to July, house prices in the UK’s cities climbed by an average of 4.2% to £252,400 according to the most recent Hometrack Cities House Price Index, while over the past three months prices have risen by an average 2.9%.

The annual rate is only slightly down on last month’s 4.6% rise from June 2017 to June 2018, but one thing remains consistent – the varying performances of the UK’s 20 major cities analysed in the index, with parts of the north and Midlands outperforming the south.

The strongest performance

The country’s fastest growing cities are now Nottingham and Leicester in the East Midlands, which saw annual house price rises of 7.5% and 6.6% respectively, while Nottingham’s three-monthly property price rise was also the strongest in the country at 3.9%.

Liverpool, with house price inflation of 6.3%, Manchester with 6.1% and Birmingham and Leeds each with 5.7% were the next best performing cities in the UK over the past 12 months, all well above the UK average and showing a trend for the strengthening of property prices in the north of the country.

The only city in England to register a fall on an annual basis was London, which recorded a 0.1% decline since July 2017, although prices there did see a small 1.2% uptick over the past three months after several months of poor performance. In Scotland, property prices in Aberdeen have fallen by 4% in the year to July 2018.

Room for improvement

Hometrack’s research also looked at house price recovery since the 2008 financial crisis, and it discovered that three major cities were still below where they were 10 years ago, while other parts of the country had seen much speedier recovery.

While Belfast was the worst hit, with average prices now at -28% of what they were pre-2008, Aberdeen has also been slow to recover with average property prices still 3% below where they were, while in Liverpool they’re still -1% lower than in 2008. However, the housing market in Liverpool in particular is on an upward trajectory, indicating that prices are likely to continue to rise sharply as has been seen in recent months in the city and across the north-west.

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

estate agents

These cities are leading the way for UK house price growth…

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.