UK city house price growth slows to 1.7% in this months 20-cities index report. The slowdown has extended into cities across southern England.
Above average price inflation in regional cities with sales volumes up to 19% higher than 2015.
17 cities within the 20 cities index are registering yoy growth. House price growth has been driven by rising levels of employment and income growth.
The annual rate of house price inflation in London equates to 0.0%
Liverpool, Leicester and Manchester have the fastest house price growth
Oxford, Aberdeen and London are the cities with the slowest growth
The graph above shows the relationship between price growth since 2008 and the change in sales since 2015. It shows that cities with the greatest increase in house prices have registered a steeper decline in sales since 2015 – the year with the highest overall sales since 2007.