The latest Hometrack index reveals that city house price inflation has increased to 5.5%, up from 3.7% a year ago.
Edinburgh is once again the fastest growing city (8.1%), with Nottingham, Manchester, Birmingham and Leeds all registering growth above 7% per annum.
Aberdeen and Cambridge are both registering nominal price falls, at a rate of -6.9% and -1.2% respectively.
In London, sales aren’t keeping pace with new supply coming to the market, with an average of 1.5 homes coming to market for every sale. However, price inflation in the capital remains positive, at 1.6%
UK city house price growth
Cities house price inflation – March
Price changes
London house price growth
The annual rate of house price growth across London is 1.6%, with no sign of this shifting into negative territory anytime soon.
Fastest growing cities
Edinburgh is once again the fastest growing city this month, followed by Nottingham and Manchester.
House price falls
Aberdeen and Cambridge are both registering nominal price falls again this month.
Trends in sales and new supply
Analysis of property listings data from Zoopla reveals the usual, seasonal increase in housing sales being registered over the first 3.5 months of this year. Alongside sales, the supply of homes currently in the market has also been increasing. In cities where house price growth is above average, new supply is broadly in line with sales.
City level summary
Regional spotlight – the south coast
Current house prices across the south coast vary significantly, from an average of over £300k in Poole to just £197k in Southampton.
From 2009 to 2018, the average levels of growth year on year across the region differ notably too, from 2.8% in Fareham to 5% in Gosport.
The differences between the points of lowest growth levels during this nine-year period to the current day range from 42% in Southampton to 50% in Fareham.
Current average price (£)
2009 – 2018 comparison
