The 20-city index is currently registering annual house price inflation of 2.7%, half the average annual rate over the last 5 years. Growth has slowed steadily over 2018, with London, Cambridge and Aberdeen registering negative growth year on year.
Price growth ranges from up to +7% in Edinburgh to -6% in Aberdeen.
Ten cities have recorded double digit price growth of up to 16% since the Brexit vote in 2016, with Birmingham and Manchester leading the way.
The annual rate of house price inflation in London remains at -0.2%
Edinburgh, Liverpool and Birmingham are having the fastest house price growth
London, Cambridge and Aberdeen are registering nominal house price falls
The development of city house price growth has split into three distinct phases – the early recovery from 2009-2012, broader recovery 2013 to mid-2016 and the post Brexit vote period from mid-2016 to end-2018.
Regional cities continue to sustain above average price growth as employment rises and mortgage rates remain low.
Valuing properties aggressively to gain instructions is a well-known tactic used by many estate agents and is a hotly debated topic within the industry, but does it work?
As the industry professionalises, what should estate and letting agents be doing to prepare for minimum qualification requirements?
In the last eight years, the growth of first time buyers has outpaced all other buying groups and in 2018 they became the largest buyer group in the UK.