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Bristol Lettings Agent - Bristol & Manchester house prices have fastest growth

Posted on Monday, January 23, 2017

Updated on Monday, January 23, 2017

London knocked into seventh place by cities with faster house prices growth.

Bristol and Manchester had the fastest house price growth last year, rising 9.6% and 8.9% respectively.

According to Hometrack, this was the highest rate of growth in Manchester for over a decade – since 2005.

Other cities where house prices rose sharply were Oxford (8.1%), Portsmouth (8%), Southampton (7.9%) and Birmingham (7.5%).

All out-performed London which saw house price growth of 7.3% during 2016.

London, however, remained by far the UK’s most expensive city with an average price of £484,800.

The cheapest cities were Glasgow (£115,100) and Liverpool (£116,000) but even they recorded house price growth of 4.9% and 7% respectively last year.

Cambridge’s house price rise of 2.7% looked muted in comparison, and included a fall of 0.3% in the last quarter of last year. Even so, it remained one of the priciest cities in the UK with an average price of £421,000.

Original article by Rosalind Renshaw from Property Industry Eye