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House Prices in Cities to Increase 10% This Year
This article is an external press release originally published on the Landlord News website, which has now been migrated to the Just Landlords blog.
House Prices in Cities to Increase 10% This Year
House prices in UK cities are 8.4% higher than they were 12 months ago and could be 10% higher by the end of this year.
Hometrack claims that house price inflation in the UK’s largest cities was 6.4% in the first half of 2015.
The average price of a home in the city is £226,200, according to Hometrack.
It also says that house prices in most cities are above their 2007 peak.
Cambridge has experienced prices rising the highest over their peak, at 40.2% growth. London follows at 37.8% and Oxford at 32%.
Some cities have not recovered after the financial crash, including Belfast, which has seen prices drop by 47.8% since the 2007 peak. Liverpool at 14% below, Leeds at 5.5% and Manchester at 4.3% have all seen prices fall.
