There remains a clear divide between the prospects for house price growth in regional cities says Hometrack

The latest Hometrack UK Cities House Price Index report July 2017 reveals that UK city house price inflation is at 5.3%, down from 7.4% in July 2016.

The sharp slowdown in London house price growth over the last year has reversed with an increase in the annual rate over the last month rising from 2.3% to 2.8%.

Birmingham is the fastest growing city (8.0%) followed by Manchester (7.1%) and Nottingham (6.9%). Aberdeen price growth negative for exactly 2 years, house prices are 16% lower since 2014.

The report states: 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. London is set for a sustained period of low nominal house price growth and lower sales volumes.

Read the Hometrack UK Cities House Price Index report July 2017 in full click here.

Allen Walkey

Highly experienced businessman with a successful career in property sales and investment both in the UK and abroad. Now a freelance writer and blogger for the property and Investment Industry, keeping readers up-to-date with changes and events in a rapidly changing world.

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