Posts with tag: UK house price growth

Birmingham leads way for UK house price growth

Published On: August 25, 2017 at 1:16 pm


Categories: Property News

Tags: ,,

The most recent Hometrack UK City House Price Index has revealed that Birmingham is Britain’s number one property hotspot. Prices in the city have risen faster than anywhere else in the country.

An average property in Birmingham rose in price by 8% in comparison to the corresponding month of last year- owning largely to substantial rise in transactions. Manchester and Nottingham came in second and third on the list for house price growth.

House Price Growth

On the other hand, Aberdeen has now been registering negative growth for the last two years. In more positive news, the yearly slowdown in London appears to have levelled out. Annual growth here now sits at 2.8%, up from 2.3% in June.

Across all of the UK’s main cities, annual house price growth now stands at 5.3%, in comparison to 7.4% in July 2016. The average price of a property in one of the 20 cities monitored by the Index is now £252,700 – higher than the UK average of £212,100.

The city level summary for July 2017 reads:

City Average price %yoy Jul-16 %yoy
Birmingham £155,400 6.8% 8.0% 1.2%
Manchester £157,500 7.3% 7.1% -0.1%
Nottingham £148,300 6.4% 6.9% 0.5%
Southampton £229,000 7.8% 6.5% -1.4%
Leeds £162,600 5.7% 6.2% 0.5%
Leicester £165,100 6.2% 5.8% -0.4%
Portsmouth £231,300 9.4% 5.7% -3.7%
Bournemouth £280,900 6.8% 5.4% -1.3%
Edinburgh £209,400 2.0% 5.4% 3.4%
Cardiff £198,900 5.4% 5.3% -0.2%
Glasgow £119,300 2.2% 5.2% 3.0%
Sheffield £133,900 2.8% 4.7% 1.9%
Bristol £268,400 14.3% 3.7% -10.7%
Belfast £129,500 4.1% 3.1% -1.0%
Liverpool £116,900 4.6% 2.8% -1.8%
London £494,300 11.2% 2.8% -8.4%
Newcastle £127,200 2.9% 2.8% -0.1%
Cambridge £432,400 8.1% 1.9% -6.2%
Oxford £418,400 9.5% 1.2% -8.4%
Aberdeen £179,700 -9.2% -3.0% 6.2%
20 city index £252,700 7.4% 5.3% -2.1%
UK £212,100 6.9% 4.8% -2.1%
Birmingham leads way for house price growth

Birmingham leads way for house price growth


Commenting on the findings, Richard Donnell, Research and Insight Director at Hometrack, said: ‘There remains a clear divide between the prospects for house price growth in regional cities, where affordability levels are attractive, and the prospects for house price growth in London and other high value cities in southern England.

“We expect house price growth in regional cities to be sustained at current levels for the rest of 2017 whereas London is set for a sustained period of low nominal house price growth and lower sales volumes’[1]



Average UK property prices to rise by 2.2% this year

Published On: April 20, 2017 at 12:10 pm


Categories: Property News

Tags: ,,,

The average UK house price growth will hit 2.2% this year-a rise of £4,460, according to property consultancy BNP Paribas Real Estate.

If the forecasts are true, this means that the average price of property in the UK will hit £210,400 come Christmas.


The predicted rise comes despite perceived market uncertainty surrounding the snap General Election called for June 8th, alongside the ongoing Brexit confusion.

BNP Paribas Real Estate suggests that even London house prices will return to growth in 2017, increasing by 1.3% by the end of the year.

Over the next four years, prices in the capital are predicted to increase by 6.8% to £505,297.

John Slade, UK chief executive at BNP Paribas Real Estate, noted: ‘The big debate in London is the extent of the impact on the £1,000 to £1,500 per square foot market. While we have seen some adjustment, people now realise that high stamp duty may be here to stay and pricing has adjusted accordingly. While 2017 may be a year of relative stagnation this market should return to stronger growth thereafter.’[1]

Average UK property prices to rise by 2.2% this year

Average UK property prices to rise by 2.2% this year


Simon Durkin, UK head of research at BNP Paribas Real Estate, also observed: ‘At a practical level, the story will become less about regional trends, with growth and activity focused on micro markets with a strong business and consumer economy. For example the North East features an extremely wide range of growth at a city level, with Newcastle Upon Tyne performing significantly more strongly than the regional average and likely to experience a less dramatic down cycle.’[1]

BNP Paribas Real Estate’s regional estimates for average property price growth by region by the end of 2020 are:

  • London +6.81%
  • South East + 17.29%
  • East Anglia +8.72%
  • East Midlands +13.07
  • West Midlands +13.59%
  • South West +22.21%
  • North West +7.63%
  • Yorkshire and Humberside +6.04%
  • Wales +4.26%
  • Northern Ireland +0.08%
  • North East -1.49%