Northern UK Cities - Property Prices Continue to GrowBut the London market is still flat
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- Market Dynamics are Strong in Northern Cities
- Southern Cities are Struggling
- Liverpool, Manchester and Birmingham among the top UK cities.
Consistent Growth for Northern Cities:
- North-West England continues to be the best performing region.
Liverpool leading the way in the region with 4.9% Year-on-Year Growth
Southern Cities Continue to Struggle:
- London recorded 0% growth, while Oxford and Cambridge recorded 0.5% and -0.3% growth respectively.
Growing Polarisation in North-South Divide:
- The UK city house price growth was 1.7% in the past 12 months.
- But, this doesn’t tell the whole story. Cities in the south of England are seeing flat to low growth.
- Northern cities, however, are reacting completely differently – with growth being very positive.
Supply v Demand:
- Manchester hasn’t seen as sharp an increase in sales as Birmingham, which suggests that Manchester will continue to have above average price growth.
- Liverpool is not on the graph, but has a sales to supply ratio of 1. This is why Liverpool has one of the fastest rates of growth.
- The graph below shows how in London and South Coast cities, the supply is increasing above the rate of demand.
The information in this article was sourced from Hometrack, the full article can be read here.
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