UK Cities (HPI) May 2016

The latest Hometrack UK Cities House Price  Index (HPI) released yesterday 28th June  reveals that Bristol has become the first city outside of the South East to see house prices rise at a faster rate than London for more than six years (January 2010).

Latest Hometrack UK Cities House Price Index saw annual prices rise by 14.1% in Bristol

Bristol marks a trend whereby large regional cities have registered the highest quarterly growth rates

Referendum expected to hit housing turnover hardest, but Hometrack also expects a rapid deceleration in house price growth across all cities in 2016H2.

Richard Donnell, Insight Director at Hometrack in his  conclusion said: “Standing back from the immediate turmoil in financial markets, the reality is that the fundamentals of the housing market remain unchanged with record low mortgage rates and a wide imbalance between supply and demand. The UK doesn’t have a problem with housing demand, the more important question is how many buyers and sellers feel confident to participate in the market in the near term.

“Market sentiment can change quickly and the sooner a clear picture emerges over the likely impact on the economy and the outlook for jobs and mortgage rates the sooner transaction volumes should stabilise and more buyers return to the market.”

To read the Hometrack UK Cities HPI May 2016 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.

You May Also Enjoy

Breaking News

Homes on spooky street names like ‘bat’ and ‘hell’ sell for far above the national average

The Halloween street names that cost a fortune to live on A new study has determined which Halloween-themed streets are the most expensive to live on.  Streets with the word ‘bat’ in the name face an increase of 188.6% from the national average house price in the UK.  Streets that include the words ‘cauldron’ or…
Read More
Estate Agent Talk

Why Mortgages Shouldn’t Only Be Accessible for 9–5 Workers

As the modern workforce evolves, mortgage lending criteria are struggling to keep up. Across the UK, thousands of people who earn outside of traditional employment, from content creators and freelancers to contractors and entrepreneurs, are finding themselves locked out of the housing market, despite having stable and often high incomes. According to James Enos, National…
Read More
Breaking News

Property Sector is in ‘Wait and See’ Mode

Commenting on how the property sector is fully in ‘wait and see’ mode ahead of the Autumn Statement, Daniel Austin, CEO and co-founder at ASK Partners, said: “With the Autumn Statement looming, the property market remains in ‘wait and see’ mode. Buyers are pausing, and developers are holding back amid uncertainty over potential tax changes…
Read More
Rightmove logo
Breaking News

Rightmove streamlines tenant move-in journey with Renter Checklist

The UK’s largest property platform Rightmove has launched a new checklist for renters, streamlining the process of moving into a new rental home. The checklist guides tenants through each part of the rental process, from finding a property to picking up the keys. The new Renter Checklist is available now in My Rightmove, where people…
Read More
Breaking News

Industry Reaction to Renters’ Rights Bill Becoming Law

The Renters’ Rights Act has officially received Royal Assent, marking one of the most significant reforms to England’s private rented sector in decades. The new law will ban Section 21 no-fault evictions, replace fixed-term tenancies with open-ended agreements, cap rent increases, and introduce tougher property standards under the updated Decent Homes Standard. It also paves…
Read More
Rightmove logo
Breaking News

Rightmove data and commentary as Renters’ Rights gets Royal Assent

The UK’s largest property platform Rightmove shares data and commentary on the rental market as the Renters’ Rights Bill finally gets Royal Assent and becomes law. Key market data The average advertised rent of homes outside of London has reached a new record of £1,385 per calendar month (pcm). Average rents outside of London are…
Read More