All cities record price rises for the first time since 2015. Average house prices across the 20-cities index report are registering an annual house price inflation of +2.8%.
London growth rate increased slightly to +0.4% – The proportion of postcodes registering price falls is also starting to reduce.
Regional cities outside southern England have recorded above average price inflation over the last 3 years; the rate of price inflation however is beginning to moderate.
Housing transactions and mortgage approvals are holding up despite Brexit uncertainty – Prices in Leicester and Manchester are up 17% since the vote in June 2016.
The annual rate of house price inflation in London rises to 0.4%
Leicester, Manchester and Glasgow have the fastest house price growth
Cambridge, London and Oxford are the cities with the slowest growth
There has been a marked decline in the proportion of postcodes within London that are registering price falls. The latest data reveals that although prices are falling across 55% of postcodes, this is down from almost 70% in October 2018.
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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.