Leicester house prices rise 7.7%
Leicester house prices have risen 7.7% year on year

House prices are withstanding the political uncertainty surrounding Brexit, in many parts of the UK.

According to the latest figures from Hometrack, house prices have risen 3.2% year on year, with growth ranging from +7.7% in Leicester to -2.8% in Aberdeen.

London house prices, however, continue their slowdown and are falling by -0.4%. Brexit uncertainty, combined with weaker market fundamentals, seems to be impacting the London market.

Six UK cities with growth of more than 6%

  1. Leicester, 7.7%
  2. Edinburgh, 7.6%
  3. Manchester, 6.3%
  4. Birmingham, 6.2%
  5. Nottingham, 6.1%
  6. Liverpool, 6.0%

Six UK cities have recorded annual growth of more than 6%, with Leicester leading the way with an impressive 7.7% year on year growth. Closely behind is Edinburgh with growth of 7.6%. Manchester, Birmingham, Nottingham and Liverpool all recorded growth of 6% or higher .

UK Cities Index

Commenting on the latest data, Hometrack UK stated:

“The current political uncertainty means we simply don’t know what the outlook is for the UK economy in 2019 and 2020. Housing markets are intrinsically linked to the health of local and national economies.

“Over the last 3 years the Aberdeen housing market shows what happens when an economy suffers from external economic factors that impact jobs and investment, even when mortgage rates remain low.

“However, if the Government gets the proposed withdrawal deal, and transition period, approved by Parliament then the outlook for city housing markets in 2019 could well mirror the trends of 2018.”

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