UK cities house prices increased 11%

houseHouse prices in cities across the UK have increased by 11% year on year in February, taking the average value to £234,900. According to the Hometrack UK cities house price index, this was up from 8.1% a year ago and the highest rate of growth for almost 18 months. The report, also says that there has been a distinguished and unseasonal acceleration in house price growth in the last three months across most large regional cities due to a temporary increase in demand from landlords looking to complete sales for second homes before stamp duty charge increases.

The four high growth cities of London, Bristol, Oxford and Cambridge continue to record highest rates of house price but there are signs that the rate of growth is starting to slow down. All these cities recorded a small drop in the headline rate of growth over February as affordability impacts pricing levels.

Leave a reply

Your email address will not be published.

Back to home page