House price growth spreads throughout the UK with majority of cities all showing annual increases
This month’s infographic takes a look at the UK’s housing market and identifies the top 10 cities that have shown increases year on year (YoY).
It may be no surprise to see that London has had the biggest increase since last year with a rise of over 17%. This shows the continued strength of London’s housing market, although there are some fresh signs of a slowdown in the market as a whole.
Bristol and Cambridge follow London, with annual increases of 13% and 12% respectively, however it does appear that momentum is slowing down as 75% of UK cities have recorded price inflation below the UK’s average (9.2%).
House prices in London are continuously bucking the national trends as prices are 117% more expensive in the capital compared to the rest of the UK average.
The cities with the lowest increase in the last year are Glasgow and Liverpool who have both seen their house prices grow by 5.5%.
House prices have grown at more than 5% annually in all 20 of the UK’s cities for the first time in 10 years. This shows that there has been a great sense of economic dominance within the UK’s housing market with all cities achieving a YoY annual % increase.
Ultimately, there is still rising activity within the market and an improved economic outlook has seen prices outside of London and the south of England rise off a low-base.
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