The latest Hometrack index reveals that city house prices have grown by 4.2% over the last year.
Nottingham (7.5%) and Leicester (6.6%) are the fastest growing cities this month. Birmingham and Manchester have dropped out of the top three fastest growing cities, although the rate of growth at 5.7% and 6.1% respectively is still above average.
The annual rate of price inflation across London has slipped into negative territory (-0.1%), although prices are 1.2% higher over the last quarter, continuing the trend over recent months for small month on month price gains on greatly reduced volumes.
UK city house price growth
UK city house price inflation (%yoy)
Price changes
London house price growth
The annual rate of price inflation across London has slipped into negative territory (-0.1%).
Fastest growing cities
Nottingham is the fastest growing city this month, followed by Leicester and Liverpool.
House price falls
Aberdeen and London are both registering nominal price falls this month.
Recovery since the financial crisis varies widely
It’s been 10 years since the financial crisis. 2008 was a year when house prices posted their fastest rate of price falls and princes continued to fall for a further 1 – 4 years depending on each city. This graph plots the average price for housing in 2008 and 2018, and highlights the very wide range in growth in various cities over the last decade.
City level summary
