The latest Hometrack index reveals that city house prices have grown by 4.9% over the last year, which is higher than the 4.2% average over the last two years but lower than the 6.9% average of the last five.

Manchester is the fastest growing city this month (7.7%), with Edinburgh, Birmingham, Leicester, Nottingham, Cardiff and Liverpool all growing by over 6% per annum.

Cities across the south coast of England – Portsmouth, Southampton and (to a lesser degree) Bournemouth – are also registering growth below the 5-year average as affordability pressures start to build. However, large regional cities in the midlands, north and Scotland continue to register annual growth above the 5-year average.

 

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UK city house price growth

UK city house price growth at 4.9%

Cities house price inflation – April

City house price inflation - April

Price changes

 

London house price growth

London house price growth at 0.8%

The pace of price reductions in London has moderated over the last quarter, with house prices 0.8% higher than a year ago.

Fastest growing cities

The fastest growing city is Manchester

Manchester is the fastest growing city in the UK this month, followed by Edinburgh, Liverpool and Cardiff.

House price falls

Aberdeen registers more price falls

House prices in Aberdeen are falling by 7.2% per annum, and have fallen by 19% since the end of 2014.

House price growth over 1 and 5 years

 

House price growth over 1 and 5 years

 

Bristol is the top performer of city house prices over the last 1 and 5 years, registering the highest annual growth over the last 5 years (8.9% CAGR). But the growth rate is now slowing, with average prices up by 4.9% in the last year.

City level summary

 

City level summary