The 20-city index is currently registering annual house price inflation of 2.9%. The annual rate of growth continues to moderate, with thirteen cities registering weaker growth than a year ago.

Price growth ranges from up to +6% in Leicester to -1.6% in Aberdeen.

A comparison of time to sell and discounts to asking price indicates the relative strength of city housing markets. See the chart below for the cities which have relatively strong market fundamentals.

 

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UK Property Market Update

 

UK city house price growth

House price growth – % yoy current / 12m ago 

Price changes

London house price growth

The annual rate of house price inflation in London remains at 0.2%

Fastest growing cities

Leicester, Belfast and Manchester have the fastest house price growth

Slowest growing cities

Aberdeen is registering price falls, whilst Cambridge and London are rising 0.2% yoy

Time to sell and asking price discounts

Housing metrics demonstrate the relative strength of city housing markets. The chart above shows the average time to sell a property in weeks, and the level of discount to achieve a sale in certain cities.

 

City level summary