The latest Hometrack index reveals that city house prices have grown by 4.6% over the last year.
Manchester is registering the highest rate of growth at 7.4%, followed by Liverpool (7.2%), Birmingham (6.8%) and Leicester (6.5%). However house prices are falling in real terms across six cities; Southampton, Oxford, Belfast, London, Cambridge and Aberdeen.
Manchester also has the lowest level of discounting (2.2%) across all cities in England and Wales. This remains on a downward trend.
House price growth across the London City index is now 0.7% over the last 12 months.
Manchester is the fastest growing city this month, followed by Liverpool and Birmingham.
House prices in Aberdeen are falling by -2.8% per annum, and in real terms across six other UK cities.
The discount from asking to sales prices provides and important insight into the relative strength of local housing markets. For example, Liverpool has the second fastest rate of growth as prices rise quickly off of a low base. Manchester has the lowest level of discounting across all the cities in England and Wales.
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