The UK property market’s fastest growing city is… Liverpool

 

HomeTrack recently released the UK Cities House Price Index fo. Despite the uncertainty of Brexit’s impact on house prices, the data has indicated there is still room for further price growth in Northern cities. In the UK’s key cities, property prices went up by 3.9% year-on-year.

The Hometrack report states: “There has been an increase in the quarterly and annual rate of growth in recent months. This is primarily a result of an acceleration in house price growth in the most affordable cities.”

Liverpool is UK’s fastest growing city

Despite being the most affordable city on the index, Liverpool produced the highest annual price growth at 7.5%, making it the fastest growing city in the UK. With an average property price of £120,100, this is still lower than the city’s average price in 2007, so there may well be room for further improvement.

Liverpool’s housing market is expected to continue to excel and has even been named the buy-to-let capital of the UK. Additionally, an online register was recently launched in Liverpool to simplify the conveyancing process, making it an appealing city for house-hunters.

Other UK cities seeing growth

Glasgow and Nottingham had the second and third biggest annual rise in property prices at 7.2% and 6.9% respectively. Manchester was the fourth fastest growing city with a 6.8% price growth, and the average property price rang up at £168,300. As the sixth city on HomeTrack’s list, Birmingham saw a 6.6% growth on the year and the average cost of property came in at £163,100. Another northern property gem was featured as the eighth fastest growing city in the UK; Leeds had a 5.4% annual growth and average property price of £166,100.

Cambridge, London, and Aberdeen were the only cities on the list seeing housing prices fall from August 2017 to August 2018. The capital and Cambridge also had the most expensive average property prices at £485,300 and £431,600. HomeTrack’s report says: “The slowdown in sales volumes and house price inflation has been focused on south eastern England, and primarily London. In our view, the Referendum result was a compounding factor for the slowdown in London house price growth since 2015.” Many investors and buyers are seeing the benefits in steering away from London and buying or investing in properties in more affordable cities, especially in the north.

Still room for price growth
While the income to buy has risen across all but the most expensive cities, it remains at or around the national average income across half of the cities. In our view, these have further scope for price growth and are some of the cities where prices are currently rising fastest.

Source: Hometrack

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

The UK property market’s fastest growing city is… Liverpool

The UK property market’s fastest growing city is… Liverpool

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.