Weak house price growth in London offsets above average growth rates in large regional cities according to Hometrack

January 30, 2018

Latest UK Cities House Price Index report – December 2017 reveals: UK city house price inflation has slowed to 5.4% as weak house price growth in London offsets above average growth rates in large regional cities.

The report states: ZPG listings data shows discounts to asking prices are narrowing, indicating market conditions are improving across cities outside south eastern England. The level of discounting is increasing in London while across other cities the discount is narrowing.

Yearly City house price growth is the fastest in Edinburgh (+8.2%) followed by Birmingham, Glasgow and Manchester, prices are falling in nominal terms across three cities – Oxford, Cambridge and Aberdeen, according to Hometrack report.

Hometrack mentions that the level of discounting provides insight into the strength of underlying demand and that once discounts get close to 10%, this is when falls in headline prices start to occur.

Read the Hometrack UK Cities House Price Index report – December 2017 published 29th January 2018 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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