Liverpool waterfront with the Three Graces

Liverpool still ahead in house price rise stats

Liverpool continues to lead the way in house price rises, while Birmingham and Manchester also performed strongly in the latest figures from Hometrack.

Prices grew by 6.9% in Liverpool in the year to September, according to Hometrack’s UK Cities House Price Index, with an average price of £120,500. Birmingham follows in second place in the list, with the second city’s properties rising by 6.5% in the same period while averaging £163,600.

Overall, the new data shows a slight slowdown in house prices in the 20 cities surveyed, with rises at 3.2% down 0.6% from the September 2017 report, reflecting uncertainties over the economy’s long-term prospects and Brexit.

The index reports that values grew by 3.2% in September, down from 3.8% recorded by Hometrack at the same time in 2017. The average price for a property in the new index is £255,000.

“City level house price growth remains well above average in the most affordable cities,” said Richard Donnell, insight director at Hometrack.

“While the rate of growth has moderated slightly prices in five cities are still rising twice as fast as the growth in earnings. We expect continued price growth in the most affordable markets over the remainder of the year.”

Midlands and northern cities also perform well

The figures point to it being a good time to invest in Liverpool, which was also recently named as the buy-to-let capital of the UK. Birmingham follows the Merseyside city, just ahead of midlands near-neighbour Leicester which saw prices rise by 6.4% and average value of £174,800.

Manchester is fourth in the list, with prices having gone up by 6.2% while averaging £167,800. Sheffield showed an excellent performance in the period in question, prices in the Steel City having risen by 5.8% compared to 4.6% a year earlier, while a property averages out at £139,600.

The report’s London data showed that while prices continue to fall overall in the capital, the rate of decline appears to be slowing. The number of postcodes showing month-on-month price falls is now at 44%, down from a peak of 70% in December 2017. There was a year-on-year fall of 0.4% for the whole of London, but some suburbs showed saw prices go up, with Barking and Dagenham showing a rise of 2.3%.

The outlook appears to be that the market remains cautious but careful analysis of conditions, especially in the northern cities and Birmingham, could yield benefits and bargains for buyers and investors.

Self-certified Sophisticated Investor

Please read

I declare that I am a self-certified sophisticated investor for the purposes of the restriction on promotion of non-mainstream pooled investments. I understand that this means:

I am a self-certified sophisticated investor because at least one of the following applies:

I accept that the investments to which the promotions will relate may expose me to a significant risk of losing all of the money or other property invested. I am aware that it is open to me seek advice from someone who specialises in advising on non-mainstream pooled investments.

High Net Worth Investor

Please read

I make this statement so that I can receive promotional communications which are exempt from the restriction on promotion of non-mainstream pooled investments. The exemption relates to certified high net worth investors and I declare that I qualify as such because at least one of the following applies to me:

STAY AHEAD OF THE MARKET

Sign up for first access to new developments and exclusive property investment opportunities.

We send limited and targeted emails on new launches and exclusive deals which best fit your areas. We are trusted by over 30,000 active buyers as their source for new stock.

  • New property developments
  • Professional market reports
  • Property deal alerts
  • Development updates
Manchester property investment

FIRST FOR NEWS AND KNOWLEDGE.

Receive trending news straight to your inbox and stay up to date on all of the property market trends and advice.

Established since 2005 we are a leading voice of authority and commentary on the UK property market. Our news is trusted by Apple News & Google News.

  • UK housing market
  • Mortgage & money
  • Buy-to-let landlords
  • Guides & advice

Talk to us

Speak to our UK property experts today:

 

+44 (0) 333 123 0320

Open from 9am-6pm GMT

 

+852 6699 9008

Open from 9am-6pm HKT