In this month’s Zoopla’s Cities House Price Index report, powered by Hometrack Leicester reigns at the top of the index with +4.5% growth whilst Aberdeen continues to feel the effects of the oil collapse that began in 2015 with house price growth receding to -5.5%.
We also share a fresh look at the time it is taking to sell property in cities across the UK, plus the discount to asking price that sellers should consider in order to achieve a sale. Download the full report to get a true indication of the market conditions in your area.
There are seven cities across England and Wales that are showing potential for further price inflation these are Cardiff, Leeds, Nottingham, Birmingham, Leicester, Manchester and Sheffield. Their market conditions remain strong and as a consequence these cities currently offer more modest discounts of 2 – 3% to achieve property sales (compared to 7.6% in inner London).
It’s Glasgow and Edinburgh in Scotland however that boast the strongest conditions where homes have been selling for 6 – 7% above the asking price.
Our latest report concludes that there are large parts of the country where housing affordability remains attractive and continued economic growth is supporting housing demand. Meanwhile, conditions are set to remain weak in southern cities until pricing levels adjust to what buyers are willing, or can afford, to pay.
For the full low-down on this months’ Cities Price Index download a free copy of the full report.Download report