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 to Rise by 10% Next Year
Annual house price growth is currently standing at 9.4% and is set to increase by a further 10% next year, according to Hometrack’s latest report.
The Hometrack City Index monitors house prices in 20 UK cities. It found that Glasgow, Manchester and Liverpool are currently experiencing their highest rates of annual house price inflation since 2007, at 8.3%, 7% and 5.1% respectively.
In Glasgow and Manchester, property values have been recovering in the last three years, while in Liverpool, prices continued falling until early 2012 and are still 13% below peak level.
However, these figures contrast greatly to London, where house prices have soared by 70% since 2009.
Hometrack revealed that the highest rate of annual growth was recorded in Oxford at 12.8%, followed by Cambridge at 10.7%.
The only city to see house prices fall is Aberdeen, where they dropped by 0.8% over the past year.
Another property market report, from Your Move and Reeds Rains, found that rents decreased in October to an average of £806 per month in England and Wales.
This is down from September’s record high of £816 a month.
However, annual rent price growth is still positive, at 4.7%.
A third report, focused on house building, revealed that 135,050 homes have been built over the last 12 months, a 17% rise on the previous year.
