Hometrack UK Cities House Price Index February 2016 , reports unseasonal acceleration in house price growth across UK cities in last three months
February saw a notable and unseasonal acceleration in house price growth across UK cities according to the latest Hometrack UK Cities House Price Index. Overall city level house price inflation increased to 11.0 per cent up from 8.1 per cent a year ago, the highest annual rate of growth for almost 18 months. Portsmouth, Nottingham and Birmingham recorded the highest rate of annual house price growth for over 10 years while Leeds and Glasgow have seen the highest rate for over eight years. All these cities have experienced sustained house price inflation since 2013 largely due to the improving economic conditions, rising earnings and employment levels with affordability boosted by low mortgage rates. London, Bristol, Oxford and Cambridge all continue to record double digit rates of house price inflation . However, there are early signs that the rate of growth is starting to slow. All these cities recorded a small drop in the headline rate of growth ov...